it's a personal preference.. but after seeing your car.. i'd say you can probably get away with it, with the flares clipped on and all.. the paint scheme'd probably go well with it..
my own car.. will be fully stripped, no side window, full cage with nascar type side intrusion protection.. lexan rear window.. probably no passenger seat.. but i plan to keep it registered.. :P and street legal..
but no race paint..
just my own preference..