I know this has been listed before, but I wanted to share my experience. As my bike was close to running out of normal rego, at $550 a year I looked at the new Vic Historic reg, I joined a bike club authorised by Vic Roads, in my case the Fifty Nine Club. Whist sipping on a Latte, my bike was scrutinised by an authorised club member, he wrote a letter stating the bike was road usable. A member of the committee signed the Vic Roads paper work. No need for a RWC.
I presented paperwork to a Vic Roads office, they didn't require to see the bike, handed in the old plate & $129 for 90 days log book rides. Screwed the new plate to the bike, nicely matches the Macho Maroon paint job on my E.
Rang my insurance company, to inform change of rego plate, immediately they informed me, the excess went from $500 to $100, & around $80 off my premium. An unexpected bonus.
So far so good, just have to see how long 90 days last, may have to buy another bike with the savings.