It might be impossible to get it through American emissions with a carbied motor, it's a shame to junk something a bit unique, but if you can't drive it on the street, it's a bit pointless to restore it.

There is one way that we get around emissions regulations in my country, don't know if it works so well in the states

In Australia, we are subject to tailpipe testing only when we put totally non-standard engines in our cars. (as long as you have a stock block you can get away with murder on an old car) One way to get around it is to convert the new engine to run on LPG gas, which is freely available here because all the taxi drivers use it. It's about 120 Octaine, so a dedicated LPG setup runs cleaner, and can put out more power with the right timing. With tax breaks for alternative fuels, it's a very cheap way to get your 35 year old V8 around town.

If you've just put a Ford 429 in a late model car, the only way you are ever going to get it through emissions (or afford to run it for that matter) is to convert to clean burning BBQ gas. Maybe worth looking into. It'd be nice to restore something a bit rare. I love my 245 Van.
--
Drive it like you hate it