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Yes the extra HP is nice. Have a lot of plans for even more. With a 10 pound pulley we were getting 579 RWHP out of it but with the compression ratio of the Z06's I didn't want to chance blowing up the motor. Going to work on upgrading the internals yes.
In regards to the warranty it does void anything that would "break" from the extra HP. For example the dealer would give me a hard time if I went in with a tranny problem or blown motor because they would argue the extra HP caused the problem. On the other hand if I had an electrical problem or something they have to cover it under warranty.
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