A friend of mine drives his c4 on the street with a manual valve body and doesn't have any issues. He drover it all during drag week this year and last year (1500miles in 5 days and racing) after driving it all those miles still ran a 9.2@150 and never had any issue with the mvb or trans.
Also some friend of mine use manual valve bodies on the street without a problem. Of the three of them and two have aod's.