It'll be considered a sports car, but since it's so old the rates shouldn't be too bad.
For example, I have an 06 Monte Carlo 2LT that I pay $68 per month for full coverage with State Farm. I was looking at an 02 Corvette Z06 recently, and my rate on that was $73 a month because of the age. I also looked at a new 2013 Camaro SS, and the rate on that went up to $95 per month. The Corvette would absolutely smoke the new Camaro when it comes to performance, yet it was much cheaper. I'm 33, with a clean driving record, but it shows that the age of a car makes a huge difference on insurance rates, even if it is considered a sports car. The insurance companies take many things into account when determining a rate.
The best thing to do is get with your agent and have them prepare a quote for every car that you're thinking about.