A reminder that Bullets may be modestly powered in stock form, but they respond to mods very well.
For, example, the F.A.B. (Fireball ASBO Bullet) 500 took 3rd Overall Place in season points this year in the 2015 British Historic Racing Championship Series, and ahead of all Manxes, Goldies, etc.
The only two machines to finish ahead of us were Seeley Matchless G50 short stroke bikes. The F.A.B. 500 has the long 90mm stroke like a stock Bullet. This was quite a feat to achieve, and it is the fastest Bullet 500 with std stroke length in the world, AFAIK. Only Steve Linsdell's short stroke 500 is faster, regarding Bullets.
So the point here is that while the "iconic " bikes were fast from the factory, the old Bullet can run with the best of them, and even beat them, when it comes to max effort competition.