Actually, if your 427 block is really a '67 block (and will pass whatever the smog rules, inlcuding applicable smog equip, were for '67), you won't be registering under SB100 or 1578, you'll be choosing the "normal" (if anything is normal with DMV/BAR) route, and choosing to be smogged under the rules applicable to the year of the block. The car will still be titled as an SPCNS, and it won't be "exempt" as under SB100/1578, but you'll have achieved the same thing (in essence) and you can drive it right away.
From the DMV's web site:
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Specially constructed passenger vehicles or pick-up trucks registered without a certificate of sequence are subject to emissions control requirements based on the model-year of the engine as determined by the Bureau of Automotive Repair (BAR) referee.
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