I personally prefer the cleaner look and deep throated induction roar of an EFI Holden V8!
But then again carb or EFI, the Holden V8 is one of the best sounding small blocks, I love any 5L/308
I haven't read the new NCOP in regards to engine conversions (LA3) in great detail. But prior to the introduction of the NCOP, the regulations were along the lines of this and I'd imagine they wouldn't have changed in this regard:
if you fit a later model engine to a vehicle, then the vehicle must meet the emissions standards of that engine.
So unless by some miracle you can get your carb fed VN-VS engine to comply the EFI engine emissions ADR's, then fitting a carb to an EFI engine is never going to comply.....
However..... if you fit EFI or just EFI heads with carb to a pre-VN block, then you won't need to comply with VN-VT emissions, because the engine number still identifies it as a pre-EFI engine.
Bottom line is, you'd be fairly unlucky if someone picked you up for it. If a carb was fitted to a VN-VT I'd say you'd be in strife. But I think you'd be fairly safe with a first gen. Most coppers wouldn't even realise it was a later model engine if it had a carb stuck on it