The key point of the specialty built vehicle rules is when you bring the car to the BAR for the smog certification, you present them with the paperwork from the DMV , and are allowed to smog-check it based either on the year of the engine or the body, which it should represent a pre-72 car.
I actually brought a book about Cobra's with me because I took my car to a Wyotech place in Fremont, CA and students probably NEVER see these on public roads. They were pleasantly surprised to be learning how the SB100 routine works. The teacher reviewed my book and even wanted pictures from it so he could show the class later on. Then it went on the roller and they did a full smog check, looking at the fuel cap and hooking up the O2 sensors, clipping the tach to plug#1. In the end, it didn't pass anything for smog, but I got this nifty sticker that exempts me from ever having to smog test it.
The kids enjoyed my exit.