2001 Z06 here with 73,000 miles. I would recommend staying with the OEM air filter. It is really almost the BEST filter for your beast!
You really won't need to change the stock air filter for a lot of YEARS. So 3-5k miles would mike out to 6/10 years!! I think the oem recommendation is something like 30,000 miles.
DO NOT under any circumstances use an oiled filter media!! The mineral oil can migrate to the MAF and oil coating is NOT a good thing for the MAF and its electrical component parts!! Oil filter media oems make no claims as to filtering better than the stock filter. In fact they allow more SI in.
Whatever oil you use, make sure to see the oem manual or shop tech data. One specification (on the C5's anyway) is the GM 4178 M. Since Mobil 1 5w30 is the factory fill, it meets this spec. Much of the Corvette community changes oil at 1.5,3,5k intervals, and really to each their own.
I change it when the DIC says to, and it is around 15,000 miles OCI's. I did however do a 1600 mile OCI and I have to say it was a complete and utter waste of time, energy, money and resources.
For as much as you plan to drive your Z06, may I highly recommend a good battery trickle charger. My battery died at the 4.25 year mark. The fact of the matter was the battery trickle charger indicated the alternator DOES NOT fully recharge the battery even during LONG trips. As you will find out, the Corvette draws current just sitting.
I absolutely love driving mine and it has been almost problem free. Otherwise, congrads on your new Z06 and keep us informed as your ownership time goes on!
[ March 28, 2006, 02:07 PM: Message edited by: ruking77 ]