I have one in my 914. Fortunately, it's a 73 and exempt from smog checks. I have no idea how you could pull this off in CA on a post 75 car.
And yes, it does go. Have to be careful with the 901, fore/aft weight distrib is just about the same as stock. BUT, C/G is about a foot higher than the opposed engine, so handling character is a bit different.