If there's a speed limiter in your setup, I'm guessing thats in the PROM. Vehicle Speed Sensor just tells the ECM how fast the vehicle is going, it doesn't limit you itself. It's used for a few things. Doing a search on speed limiter through the forums should answer how that limiting function is handled.
Are you trailering the car to the track or not? Just getting an idea on the WSP comment. I know a couple of years back they stopped requiring an inspection for out of state vehicles being licensed in thist state, but I doubt that influenced the "rebuilt" portion of the requirements. This is to title/register the vehicle of course.
When I "built" my truck, the state required a WSP inspection, which gets you a new VIN. They wanted receipts for everything...frame, body, doors, engine, transmission, tailgate, etc. Every large piece on it. | 
