Yes Jon, I agree that street-ability is very important for a road bike.
Most of the stuff that I've been discussing on this thread is actually targeted at the street Bullet performance.
It's possible to get much higher levels of power out of a racing Bullet engine, but as you mention, it's not desirable for street use when you hot-rod it up that far.
The typical max parameters for the Bullet to work well for street riding are 30hp/30ft.lbs and about 8:1-8.5:1 compression, and no more than 5500 rpm with the stock bottom end.
And that's what I've described in most of my discussions on this thread.
If you do the right head work and carb and exhaust, and then include the hi-comp piston and re-phase the cams(if your particular cams will allow it), and retard the ignition about 4 degrees or so, then you can get into the 30hp neighborhood, if you did everything real well. Maybe a bit less, but it can get into that neighborhood. And, this is rear-wheel power, so you can add ~15%-20% to that for crankshaft power. Maybe around 35hp at the crank.
I understand that the Bullet's torque curve is the main attraction, and it's silly to compromise that for a few extra hp on the top end which will not often be used. So, my recommended mods on this thread are aimed at retaining the same general riding characteristics of the Bullet, but giving some more power too, with the same sort of nice wide torque band that the Bullet has.
These mods will add stress to the stock bottom end, though. So, it may not last as long as a plain stock Bullet. And that is sort of to be expected when increasing power to double the stock power, such as we're talking about. If you want the added longevity and peace of mind, it's a good idea to purchase the European Performance Crank with forged steel rod and oversize Alpha roller bearing, and some good quality European or Japanese made main bearings.
That will beef up the bottom end enough so that you won't have any concerns about bottom-end strength. And you'll need a stronger clutch to hold the power, The stock clutch will slip. It can't hold that power level.
That' crankshaft assembly is the most expensive part in the mix, and it's not totally mandatory to have it, but it is advisable if you can afford it. The stock con-rod is often pretty marginal, and could give up at higher rpms, throw it thru the crankcase, and making an expensive junk pile out of the engine. And that's not uncommon. So, if you can afford the good crank, then get it, and rest easier.