With the club cams, they have valve overlap so the chances of passing emissions is slim to none.
Once you get the new springs an retainers, it should hold up pretty good. You might worry a little bit about rods and the crank but they should hold up.
If you get the stage 2 heads and Club cams, I do suggest some form of fuel management, otherwise you will get nowhere near the power from the mods. Patrick Olsen got the heads and cams, and he didn't really get any gains until he started playing with fuel.
Also most people agree that the stock heads are not all that restrictive, so they suggest just going for cams and such. That will get you the most bang for buck.
And if you are going to go Cobb, why not wait for their headers to be released also?
I would I guess...