Thanks for the explanation Paul. Is it $700 each year or only one time and then some sort of other fee annually? I take it, from the descriptions on this forum, that there are a few changes made after registration? Not unlike here in some ways- 'specially smog stuff.
David- CA says, to my best knowledge, that the engine and car (roller) must come from different sources. Other than that you can pretty much have what ever you want. In New Mexico, I bought the SPF and Roush engine in Arizona. Never had the car in this state yet, registered (titled) it as a 2004 replica of a 1965 Cobra with a 427 engine and never even showed them a picture of it. This state has smog laws only in Albuquerque (biggest city and county). I do think this is not representative of most states but none are to the level you describe. BTW, annual fees here are about $50 US. Cost around $1800 in tax to register initially. The Roush engine drove the selling price, on which the tax is based, up.
If you guys ever plan a trip to the States, be sure to let me know and schedule a stop here in the Old West.