No, it's not. Mine is a Dry Sump 308 and I registered and titled it in AZ without any issues at all. Other states like the PDRC (People's Democratic Republic of California) may make it illegal as we all know pot smoke is way healthier than the smoke from a dry sump carbed GTB.
You are very near spot on for my car+resto done stateside...and I got my car for just about the same as you before they started climbing through the roof. The last dry sump I saw sell here in U.S. was 4-6 months ago and was a rough driver for 80K...needed at least a cosmetic resto of everything.