Randy, interesting thread.
I don't think your suggestion of maintaining the original pollution controls is a viable one in the case of pre-1978 vehicles, however.
1968-- air injection pumps-- NLA
1969-1972 MFI support to produce less than 3% CO-- very hard to do
1975-1977 Thermal Reactors-- Great way to provoke riots
The beginning of improved emissions came with rudimentary lambda control so you could run a cat. One retrofit solution for reducing emissions that has peripheral benefits in terms of better performance through the power band and improved fuel economy is EFI. I can easily see more SC's being converted, particularly if a low cost ITB setup were brought to market.
I, unlike the majority of Pelicans, ride the NYC subway to work every day. Does that mean I should get some 906 cams?