The early 2001 LS6 engines in the Corvette Z06 had all manner of problems with excessive oil consumption, broken valve springs, and rocker-arm failure. A 2002 engine revision addressed most of them, but not all. The LS6 in the 2004-2005 Cadillac CTS-V still uses the same valley cover as before with the PCV plumbing and oil-separation baffles built into it, and this cover is prone to leaks, allowing oil to enter the PCV system and leading to excessive oil consumption - sometimes as much as a quart of oil every 500 miles, often leaving oil puddles on the floor. Symptoms of excessive oil consumption include fouled spark plugs that cause misfires and poor running, as well as smoke out the exhaust. Virtually all 2004-2007 Cadillac CTS-V oil-pressure and catalytic-converter problems are due to the oil-consumption issue.
Enough oil buildup in the PCV system will eventually gunk up the entire intake system and throttle body, leading to various running problems. Check the oil level, and if it's low, it could be an indication of slapdash maintenance, excessive oil consumption, or both. At this point, the valley cover should have been replaced long ago, and if ignored, you might be looking at a far more expensive job of replacing the piston rings - an engine-out job requiring a complete engine strip. The valley cover is the most common of all the 2004-2005 Cadillac CTS-V engine problems. The other enemy of the LS6 is modifications, so make sure the engine is completely stock. Modified engines tend to overheat and the stock cooling system cannot cope with it. A totally standard, well-maintained LS6 should easily exceed 200,000 miles without any major problems, but keep an eye on the oil consumption to pre-empt expensive repairs.
The 6.0-liter LS2 was the very first engine of the 4th-generation Chevrolet LS-based V8 and debuted in 2005. It was the 2005 C6 Corvette's base engine and replaced the Cadillac CTS-V's 5.7-liter LS6 engine from the 2006 model year. As a natural successor to the LS6, the LS2 has a bigger displacement and higher 10.9:1 compression ratio, thanks to flat-topped pistons, but loses the sodium-filled exhaust valves. Its "243" cylinder heads are essentially borrowed wholesale from the LS6, but used in conjunction with a smaller camshaft. Like the LS6, the LS2 should remain reliable if left stock and if you stick to the standard 6,500-rpm rev limit. Overrevving and lax maintenance - especially in terms of timely oil changes - will bring on failures sooner, and some specialists have noted that the rocker arms' trunnion bearings and the rather brittle pushrods are potential weak spots that typically give way first in neglected or abused engines.
The LS2's revised valley cover is said to greatly reduce the incidence of oil leaking into the PCV system and excessive oil consumption. However, it's worth keeping an eye on the oil consumption, just to be sure. Keep it stock, stick to the rev limit, and change the oil every 5,000 miles, and there shouldn't be any problems. It has been known to exceed 300,000 miles with meticulous maintenance. Of the two engines, the LS2 is definitely preferable due to its punchier mid-range and better reliability. Its superior design and different valley cover is the reason why there are rather few 2006 and 2007 Cadillac CTS-V engine problems.
Mileage: The LS6's issues, such as the leaky valley cover, are mostly due to design flaws, and other issues mostly arise due to abuse of the engine or lax maintenance rather than mileage.
Cost: A new valley cover for the LS6 costs $132. A new PCV valve will cost under $15 for the part alone. The parts and labor to replace the piston rings will run into thousands of dollars because the engine must be removed and stripped.
How to spot: The valley cover will leak oil into the intake system and onto the floor and result in poor engine performance and an illuminated Check Engine Light (CEL). Issues with the rockers and pushrods will probably cause clicking sounds and impair performance. Any engine modifications can point to trouble.