Although I have no love for this epa ruling/clarification. I'm going to try and put forth th glass half full interpretation.
1. Only ecu, emissions, and engine mods are banned. This is not new, it's always been illegal to run long tubes on the street for example.
2. Carb approval still exists, so if a manufacturer gets carb for a part, ex stillen sc or a cai it is fine.
3. Cbe will be unaffected, anything downstream of emissions equipment, secondary o2 sensor and cats will be fine. Laws regulating exhausts are for decibel levels.
4. Suspension, wheels, tires, diffs, cooling etc mods are fine.
5. Be thankful we live in the golden age of internal combustion development. There are so many off the showroom floor track ready beasts that didn't exist even 5 years ago.
6. Going fast had always been correlated with how fat your wallet is, now that money goes to the dealership vs the aftermarket.
7. Long term we will see carb approved tt kits etc from a smaller group of aftermarket companies.
8. Driving around on the street with no emissions equipment is and since 1970 has always been illegal and hurts our environment if this ruling gets us long term cleaner performance parts it's a win win.
They should however have exempted modded street car to race car conversions provided they are track only cars, that part goes too far, the also should have left the 25 or 30 year rule in effect where classics are exempt as well.
Other than that, I think it's a good rule.
(Dons flame suit).