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Mac, I'm certainly no expert, but here is my take on it.
It's the difficulty of approval & registration that stops most people importing Cobras.
You can always go the club rego path or bring it in as a race car, but I would think that a Cobra that cannot be fully registered would be hard to sell if/when you decided to.
I would check with Vic Roads on the rules for importation.
I know in QLD they actually check the year of manufacture, so just because it is titled as a 1965 Cobra, doesn't mean they will treat it as that. I know that they do contact the manufacturer or other 3rd parties to verify the vehicles age.
There are some allowances for age, so if you purchase a Cobra replica that is made before a certain year, approval can be a lot easier. 1989 from memory is one of the key years. So you would be looking at old Cobra replicas in the states, but they are not hard to find.
Importing can be done but is not simple. I've only seen personal imports brought in and successfully fully registered here.
The simple way, would be to buy an already approved & registered local Cobra. Transferring registered Cobras between states is also not a big drama either most of the time.
Good luck with it.
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