While I agree it can seem tough on the young, the laws keep getting put into place to "try" and save you from yourself.
These laws have been in NSW for many years now. Yet the young fellas still end up in mass fatalities street racing each other or just simply running out of talent and hit a tree or pole etc.
The younger generation drive around here flat out, failing to to care and thinking they are invincible (just like I did at the same age!)
You may feel the older cars are made out of "real steel" but the facts are the newer builds are far safer and stronger in collisions. AMCAT ratings prove this to a point. On top of that the rust in the seams of older cars doesn't always show itself until it is split open in a collision. I really do sympathise with you about the ricer with 200kw vs an old V8 with 125kw. Lets face Mum's shopping trolley will blow the doors off most 253 V8's of yesteryear. But the government who puts these laws into place don't look at cars older then 15 years as the numbers are small and never part of the data collection.

All I can say is serve your time driving something deemed safe, cheap and reliable and spend your time and cash building the beast you really want to drive and having ready to roll when your off your "P's"

Your time will come