When I first got her I put a 7" conversion kit into my old 2005 "Iron Cylinder", and it went in without a hitch, or at least its adjustment is such that it has never struck me as "off" the few times I've had her out in the darkness over the past year or so I've had her. So, I'm wondering if maybe you have the bulb or the big lens bit (or the whole sealed beam affair, if that's what your later Bullet has) somehow turned 180 degrees (upside-down). That might explain it seeming "high", especially on low beams.
If you look at
this YouTube film, about 23 seconds in you'll see the two different length headlight fixing plates used for 5 3/4" and 7" headlamp rings. Could you have somehow swapped these? (Though I would have thought using the longer 5 3/4" one on a 7 incher would make the lamp point low).
Lastly, is the headlamp lens seated properly in the metal retaining ring? Those little "W-shaped" sprung retaining clips can be squirrely (and please
DO wear some sort of eye protection if you're messing with them!). If you added one of those natty little "visors" like I did, make sure it isn't the culprit, pushing the top half of the lens back. If all else is as it should be, and it is seated squarely all around, and the maladjustment is just a few degrees higher than you'd like, you might try just sticking a little strip of firm self-adhesive foam, rubber or whatnot between the lens' bezel (outer ridge) and the inner retaining ring down around the bottom third or so to space it out just a bit and point the lens slightly downward. If satisfied, a little squidge of clear silicon goo around the outside, between the retaining ring and the lamp, should then help keep the weather out of any resulting gap.
Just remember: it doesn't have to be
perfect. As far as I'm concerned, the chief purpose of my headlamp is to alert other motorists to my presence with the sun high in the sky as they hurtle down the road playing Candy Crush. If the beam's right in their glazed eyeballs, so much the better. In fact, when I first cobbled together my old Norton "Desert Sled" from random bits, lacking any of those "W-clips", I just drove around for a couple of years with old socks jammed into the headlamp shell. And you know what? It was fine.