As far as the red goes....That is COMPLETELY up to you....

I do not know a thing about Virginia Emisions...IF you were located
in Maryland then you could just wait until Jan 1st (when the car is 25 years old) and gain a lifetime  exemption from  emission  testing...

Someone from Virginia should be able to tell you what the Law is down there...  

By 79 was registered at my brothers home on the Eastern Shore of
Maryland for years because it would not pass emissions (ran great but was missing all the required parts plus was modified etc.. (I live in Western Maryland...the Eastern Shore does not have testing.. )... I waited until the car turned 25 then registered it at my home...

Curious was Wholesale really is for these cars... LOL 

Bob\

Looks like a pretty nice car to me. If I were in the market I would have to look pretty closely at that one for sure. I like the charcoal color on it also. Check for rust in front of rear wheels at the frame where it goes up. These are places prone to rust also.

Good luck on the car and keep us updated on it.

This looks like all hardware problems.  Not actual emissions from the tailpipe.

Thermostatic air is the air flap in the air cleaner assy.  The manifold mounted stove is the area attached to the exhaust manifold to collect hot air from the manifold, then the tube connecting the stove to the air cleaner.

The Air injection system is the A.I.R. pump and the connecting tubes and check valves going to the exhaust system.

The H4 headlights, now that's just getting very picky.  Put the regular bulbs back in until after the test.

This sounds more like a full safety and equipment inspection rather than just an emissions test.  This is 05,  in 06 the car is 25 years old, so in 07, no emission testing.  I don't know about Va.