I have an 86 that had the same problem. About half the time the key with
the embedded resister would not make a good contact. The starter would
not crank and It took about 2 minutes to reset for another try. There is
a modification for it on one of the corvette web sites. You take the
cover for the steering shaft off. Just under the dash board. You can
then see a harness. You add a resister the matches the value of the one
on the key. Since the right resister has been added directly to the
system it bypasses the key connection. Very easy to do and can always be
stock again, but I would never change it.
IT looks like Jack gave you a good solution, but I wanted to add one
comment. My '93 never had a problem except once. I had carried the key
in my hand while walking to the car, and perspiration apparently caused
the failure. It would probably be worthwhile to clean the key really
well, and give it another try before doing anything major.
Hope this helps.
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