You do not have to smog test the car due to the year and the testing exemption. To be 100% legal, you are doing the right think, but not necessary if you want to take the risk. Is DMV requiring you to have the car inspected?
If they are requiring the inspection, and you have some extra cash, you could either swap in a factory FI motor (F-body, vette etc etc), or buy an aftermarket fuel injection system (holley, accel, edelbrock etc) and bolt it to the engine you have in there already. Just make sure that any aftermarket system you buy had a CARB (CA Air Resources Board) registration number stating that it is legal in CA....
To be legal, you will also need EGR, air pump etc.....
Although there are thousands of pre-1976 cars running around without appropriate emissions equipment, it is still a state and federal offense to tamper/remove the equipment, or run a car without the required equipment. If you choose to go that route, you do so at your own risk. (legal disclaimer complete)Tim