I have to agree with what the others have said. A title that says "1965 Cobra" is cool but nobody will ever see it until you go to sell it. More importantly, CA is a good market for Cobras and a car that already has SB100 status will sell faster and/or for more money when you decide to move on to something else.
Enjoy the fact that you can register your car with one trip to the DMV or AAA and never have to visit a smog station. Then go drive it!
