In California we don't smog stuff built over 25 years ago. All my cars are older then that. Electronic ignition, header, higher compression will help both power and emmissions. If NJ just checks the tail pipe and not the emmissions equipment then just add some alky/methonal race fuel. No more then 10% and your emmissions will drop, but don't do this on a regular basis cause it will cause problems. Eats away at alloy stuff and hardens rubber parts like fuel lines and seals. I've used the stuff we buy for the race car (Jr. Dragster) a few times. Got this info when I worked for an emmissions test equipment company.
When you start talking about cams and buying aussie heads, etc, you are talking about enough money just to swap in the V8. At that point, I guess I would only recommend staying with the six if you want to be unique.
I just spent $1,000 building a 200 six for my Ranchero. Head work, cam, header, etc. Unique? YES. Cost effective NO WAY. I have a spare 250 that I thought about building for my Maverick, but common sence keeps saying V8. Heck even a good late model 5.0 with EFI from the wrecking yard with T-5 is only a few bucks more then what I will spend on the 6 and I still won't have as much HP as a basic V8.
here in the great garden state, they even make you pop the hood during inspection. they'll know if something is missing. i think too many people know about that stuff that lowers emissions.
Every state is different, but sometimes all you have to do is pass the standards for that model year. You can get a roller 5.0 to run MUCH cleaner than anything in the mid-seventies.
the standards are looser for a v/8. gees... if i can't pass in 18 months (2 year inspection in nj) i will clamp in a cat converter then remove it!
In California when they do the test they check VIN and year then make sure all factory smog stuff is in place, then they check tail pipe emmissions