I just had the same problem with my 2001 coupe! It wouldn't start for me last week. Fortunately I was in the driveway of my friend the certified Chevy mechanic when it quit completely. He said, 'looks like the sensor that reads the resistor in the key has gone bad, no problem, we can bypass it in a few minutes'. So, we got an ohm meter and read the resistor in the key, mine was 3.7K ohms, I happen to have lots of resisitors in my ham radio junk box at home so he took me home and we found the right combination to come up with that value. It took 5 resisitors, a 3.3K & 4 100 ohm resistors. You can buy them at Radio Shack if you don't have some at home.
Then we took the console off, I have already documented the whole method to get the console off (and fix the hazard switch) here:
http://myweb.cableone.net/kd5fx/HSwitch/HSwitch.htm
Next, remove the knee board, or whatever you call that piece of plastic that is under the steering wheel, (there's two screws on the bottom and one UNDER the trunk/fog light switch panel, pry on the bottom of that switch with a flat blade and it will pop right out) this exposes the ignition switch. Look for the plug with two small white wires. It is plugged into the black round ring that goes around the key. This is the sensor for the resistor in the key. Pull that plug and plug in the resistor(s) that you soldered together. Put in the key and see if it will start, if so, you're done. Button it all back up and HIT THE ROAD!
I'm waiting on parts to change out the whole ignition switch, they should be here this week and I'll document all this with pics as I get back in there to give it a long term fix. Right now I'm running around with the console and other parts off! But it runs!
Save the wave.... Doc
here's a list of all the resistor values:
http://forums.corvetteforum.com/show...t=VATS+ codes