an old neighbour suggested i get club rego on my P6 too. he did mention, however, all the limitations that come with it, so i decided to go for standard rego in the end. i can't remember what the exact limitations were... something like you can only drive for test and tune up to a 10Km radius, outside of that you have to be in a club cruise event and carry proof of membership at all times... stuff like that.
i know that doesn't answer your question, but i'm sure someone from EFCC will reply soon.
if you have a look at their membership application form, there's a check box there for "Special Vehicle Registration" under "Reasons for membership".
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