Thanks OZ....so far it looks ok for this year. I got the left side of the frame reconfigured this weekend, to make room for the new chain run. Parts are at the machine shop for rework, case milling, etc. I'll carry the end of the output shaft extension in a single 20mm pillow block. That bearing will be mounted on a steel cage, supported by main case and engine mount bolts. The welded up case won't have to take any load. Tomorrow I've got to order 8 feet of chain....
As far as the flywheel issue, I can't say whether it matters a lot. These small engines stay pretty far revved up, and the clutch basket package is geared to the crankshaft for a little flywheel effect. On my old CB450 with no flywheel, we had a lot of trouble starting it (my dad towed me off the line, on the door handle of his Chevy Van because it didn't have a starter).
Gordon Jennings (Cycle World) had found out that the 450 advancer wouldn't stay in place on it's weights, when run with radical cams, "one-spline twisted" torsion bars, and 12,000 RPM. I learned about it in a magazine article, in time to fix the bike before Speed Week '69. Curiously, that "door handle start" routine led to the only time I ever got my picture in a motorcycle magazine, which was back in the early days of Hot Bike. They didn't know who it was....it just made an odd picture at the bottom of a page. Below is a pic of Jeanne and I in 2007....I'm still hanging on the driver's door, but the bike has an electric starter now.
Personally, I like to run without alternators, on cars or bikes. Straight 12 volt is easy to diagnose, and doesn't run the risk of popping a diode and becoming an AC generator where it shouldn't. This pushrod bike will run two batteries, one for starting and cooling fan, and one for ignition.
Perhaps if my wallet doesn't collapse, I'll have the old 450 out along with this bike. I've got some friends that would like to make a pass on the old girl, just to see what it's like. It seems to be pretty indestructable, and the old chassis wiggles enough to entertain you (oh man....Kent's gonna make hay with that one...).
Regards, JimL