luoma , Matt,
so we do what we have always done with our bikes: if there's something about it we don't like, and we can change it, we change it! As you say, the Electra's looks are not too far gone to make it much more pleasing to the eye, and if it takes the loss of some bad tinware and untidy frame lugs to achieve it - well, just do a neat job and go for it! I guess you're not worried about putting it back to stock for resale, are you? Just make sure you have enough space for the increasing pile of junked stock parts...
Some US export models of the old Brit stuff were very cool, the '56 Indian Woodsman version of the Bullet inspired me to customize my Electra. I haven't cut any frame lugs off yet, though!
Matt, there was a 350 lean burn Bullet sold on eBay here in the UK a while ago you would have loved, the owner built it just for scrambles, the only tinware was the gas tank and fenders! There was no sign of a battery, so I'm guessing he used a crank-mounted PVL ignition or similar..
Regards,
Adrian