I went through the "bonded" title process a few months ago, and although it was costly, the gentleman that did it for me had no issues. My car does have a VIN plate, but the process didn't involve anything other than giving him the VIN number. With the recent changes to the Texas state inspection interphasing with the registration, I'm not sure how it was all done. I just didn't ask questions. I didn't want to know. I paid the guy and he brought me the paperwork, I visited the local tax office, walked out the door with a license plate and a smile. Cheap? no! Effective....100%! Legal? I had a title 10 days later. I can't see any repercussions. I just wonder about when I graft the 1950 sedan delivery body to the 1952 Chevy style line body. It will no longer be a 4 door sedan as the title describes.