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One of the biggest problems with DOT3 fluid any corvette owner can tell you...
It absorbs moisture. This causes pitting on the pistons and calipers if it's not changed out on a regular basis.
Why DOT5 seems to be avoided by everyone except GM on the Corvette only I don't know, but I'd imagine seal compatibility (and cost) is one factor.
DOT4 removes the moisture problem without having to change seals from DOT3, but I'd still change it out regularly. Brakes get mighty hot so the fluid probably breaks down over time as well.
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