Be careful with collector plates, and be sure to check your state laws.
At least here in Kentucky, the laws specifically say that the car CAN NOT be a daily driver. Of course, the definitions are intentionally ambiguous I think. If I only ever drove it to car shows cruise-ins, or for cruising around town I don't think there would be an issue. If I drive a car to work once a month or drive it to go out to eat occasional, though, is it a "daily driver?"(I would think not, but what a police officer or judge thinks is what matters). Even so, if it's your only car, it's pretty hard to argue that it's anything but a daily driver.
The chances of getting caught are realistically probably small, but the fines can be big if you are. At a minimum, you'd probably have to cough up the registration(with interest) for all the years you should have been paying it, and there's a decent chance you'd get hit with a fine also.
There are also special collector car insurance plans, but again you really have to read the fine print on these-some have mileage limits, storage restrictions(i.e. only in the garage) and pretty strict limits about where and how you can drive the car. Some companies would be okay with "driving it to work once a month" but others would say absolutely not.
Weigh the risks with the rewards...short term savings can turn into big expenses in the long term, and this is just one example.
Going again back to the MG-B I've been threatening to buy for about 6 or 7 years now(along with half a dozen other cars
) I'd put antique plates on it and insure it with collector insurance. At the same time, though, it would strictly be a "fun" car and I'd keep a daily driver.