A Using electric pumps on the street has been only possible for the past 10 years or so. Harold Meziere and family builds one of the finest pumps for racing, and offers pumps with reliability to match street driving. My dad has a '55 Del Rey with a 468 big-block that has always been a chore to keep cool in traffic during the summer months. Cruising at low engine speeds with the Vintage Air running to keep he and Moms cool would kill them. About five years ago he replaced his crank-driven water pump with a Meziere remote electric water pump, which has worked flawlessly ever since. He went with the remote design because of the close proximity to the radiator with a puller electric fan on the backside of the radiator. He has made several trips to Northern California from SoCal without a problem with reliability or heating issues.
For your Corvette, we'd recommend one of Meziere's block-mounted 55-gpm pumps. The electric motors on these are rated for 2,500 hours of trouble-free service. Knowing Harold as we do, we'd say this is a conservative rating. The pumps are a work of art in both manufacturing and engineering detail, and they're available in chrome; polished aluminum; red, blue, and black anodized finishes.
You should realize around an 8hp gain at the rear tires just from the pump. If you go with a full electric fan arrangement, you will see even more gain over your flex fan. Going electric also really cleans up the front of the engine.
Technical questions for Kevin McClelland can be sent to him at firstname.lastname@example.org.