If you are referring to bypassing the coolant flow through the throttle body... you can do that easily for about $5 all local pieces. I did that on my T/A. Some LT1s dyno as high as 6hp higher, depending on your temperature conditions. There is NO reason to NOT bypass it at all. It was originally designed to keep the throttle body from getting TOO cold and sealing shut in the winter. You WILL NOT have that problem, I would say, anywhere in the US (with the exception, perhaps, of alaska).
I will post pics from F-body forums...