I think we're basically both right, chances are the EPA and the State of California doesn't give a rat's *** about a few hot rodders with their pre '75 cars, but they could.
My issue with the regs is that they exists at all. One of the issues that I think we should all be concerned about from a philosophical standpoint is that although a rule is not enforced doesn't mean it won't be enforced in the future, or that the government won't enforce it simply to keep someone quiet. Yes, I'm a little paranoid, thanks for asking.
This is the kind of BS I'm talking about.
http://www.washingtontimes.com/news/2014/aug/1/feds-raid-nc-home-to-seize-land-rover-in-epa-emiss/
You're right '75 and down in California your pretty much golden.
You're also right, I think I've beaten this dead horse long enough. ;)
Regards,
Joe Dokes