im pretty sure mine has a fitting on each side for the air and an egr fitting.

 

I have a 2000 ss and cut my egr valve so i would think that it does.

 

Yes you do. The 01s and 02s got the LS6 intake manifold which doesn't have a spot for EGR.

 

When you cut the egr valve, what advantages does it do? Worth doing?

 

The EGR tube sticks down relatively far into the intake manifold. By trimming it down it frees the air flow. I don't know what the gains are, I would guess around the 1-3hp range. Installuniversity.com has directions on how to do it.