When I bought my 71 out of state, I had to have it inspected for functionality, brakes, lights, horn (that one I had to get fixed), once inspected you take the green tag to DMV to get plates, I then went back with original 71 plates and got my Antique tag. With the antique tag, you do not need any further inspections. Of course, the antique tag is like antique car insurance, you are not suppose to use it as a daily driver, etc.
http://www.txdps.state.tx.us/vi/Misc...pe.htm#antique