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What corbic is referring to is federal legality, not state legality. While gray market vehicles can be registered at the state level and be legal to drive, they will never be federally legal.
To qualify for federal legality the car must be imported after it is 25 years old with box 1 of the customs HS-7 form checked stating that the vehicle is "25 or more years old" (among other things). If the car was not imported under that exemption it will never qualify for federal legality.
Why does it matter if your car is federally legal or a gray market vehicle registered on the state level? In most ways it doesn't. However, with a flood of federally legal BNR32 GTRs hitting the market in 2014 the resell value of non-Federally Legal GTRs is going to take a big hit. If a buyer has the choice between a BNR32 that has been imported above board and is 100% legal in every state or a gray market GTR, they're likely to pick the Federally Legal one.
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