I'd just go for it. There are so many cars about with illegally spaced letters and numbers on their personalised plates...and motorbikes with tiny plates, that I can't see a Morgan with an old number being pulled over. The only hassle is changing the plates for the MOT. You'd have to buy a show plate to get around the latest plate restrictions but then the original black and white plates had no BS markings.
Shame I ended up buying Budsters old reg number which I've grown rather fond of...otherwise I'd get an old style number and go down the black and silver route!