I'm pretty sure you can do the swap. I believe there are a few people on here from cali that have met the smog regulations on similar swaps.
The smog tests themselves are easy to pass, its' that Cali doesn't like it when you start putting engines in a vehicle that don't belong there.

 

Well, that's the thing - any engine that isn't a TBI doesn't belong there. So the new swap needs to get inspected by a state referee to certify the swap is legal and it contains ALL of the emission equipment from the donor vehicle or else it's a guaranteed fail/headache. On top of that, I found out that I need to provide proof that the donor engine came from a vehicle with CA Emission requirements, not Federal. A lot of BS.

I think I will be happy with a built TBI with ~350 HP. These trucks are so light, it should be plenty of fun. Not to mention I can break the tires loose as it is and I won't have to wire anything.... just get it tuned.