You may get away with doing this.

However the 720 is a truck and putting that engine in a vehicle that is not a truck is the problem.

it's not as simple as it conforms 100% to the newer standard, you can't legally put a truck engine, head, transmission, or carb in a vehicle that is not a truck.

I'm not trying to be a difficult, I've had experience here and CA law makes it very difficult to do legally. Even the Z engine would be a problem since the vehicle it belongs in is significantly heavier vehicle, the only legal swap would be swapping in an A15.