Ryan, I wouldn't worry about the emissions test, especially if you could re-title it as a '65.
When I bought mine from a fellow club member in 2005, he had to sign an IEPA waiver every year, a form that stated that the Cobra was a show car or a race car.
After I bought it and changed the owner information on it, still listed as a 1994, I have not gotten the IEPA form, ever.
Ralph
