I really cannot be bothered reading the entire topic, but i have to agree with what i have read.
I am 19, on my P's and live in Box Hill (and currently making just shy of 50,000k a year).
I see alot of P platers getting away with it, but then again you just have to check like carsales.com.au or carpoint.com.au to see how many P platers are having 'urgent sales' of their skylines.
Vicroads probably dont have a clue, and alot of police officers probably dont, allegedly those 'TMU' bastards are the ones that know their shit.
That really is too powerful for a p-plater, i drive a car that is way less powerful then that, and i drive it ****en fast (140km/h down wellington road before i decided that was enough hehe :$ or 160 around fishermens bend) Not dangerously, but fast, i didnt at first, but thats how it happens, when you have a car that has a bit of zip, you thrash it
I also spend ALOT of time in knox, scoresby, rowville area, ive been 'booze bus'ed 4x in 2 months, and waved through 3x, one time a copper was checking out every detail of my car, even the rego, im not sure he knew what sort of car it was (it is legal way legal), ive been asked for my license and everything.
So yeh, odds are you will get caught, and chances are you wont be covered.
But of a waste of money really, you should have saved up for another 6 months and gotten a WRX, a bank will loan you like 20,000 (with a gurantor), and if you have 20k already then you can get your self a nice 03 wrx for 36-37k, use the rest on insurance, and it is actually legal.
you just spent like 21k on a 10 year old car, that has no doubt be thrashed before, that you legally cant drive, and that you will be lucky to keep for the full 3 years you are on your p's.
I plan to get a rex, then when im off my P's in 2 years time hopefully a R33 GTR if my gf/future wife permits ;-) Depends :-)
Anyway, i think you should have waited, quite irresponsible of your parents to let you drive a turbo car pushing out 184kW stock, that is not legal, when you are only 17.
But i admire that you allegedly payed for it and not your parents, i despise people who do that.
Edit:
Although i just said its irresponsible for a young one to be driving such a powerful vehicle, yes a rex is pretty quick, 168kw stock, but i am more into 'the look' and 'luxury' of a car, not so much into power, i will no doubt drive it quick merely from bad habbit.