I'm of the opinion that if the car is neat (as yours is) and you don't give the cops a reason to pull you over (i.e. by driving like an idiot on public roads) then there shouldn't be an issue.
Ever since I was teenager I've driven Escorts daily, ranging from a BRIGHT orange Mk2 with roll cage and bonnet scoop (still not proud of that, but it did look tough), a bright red Mk1 with Superlites, cage, number squares on the doors, red Sparco seat and harness, through to my current daily driver being the X Pack - which I wouldn't exactly class as being 'subtle'.
Not once have I been pulled over and harassed, and I have been driving in traffic plenty of times with a cop well within view. Sure I've been pulled over for "random" breath and rego checks, but I make sure everything is legit and give them no reason to give me a hard time.
Just my thoughts on the matter! Of course, I'll probably cop a canary on the way home tonight... [:p]
Oh, and I think I've got some stocky hub caps if you need them Blake.