Interesting thread! As I wait for the Spring season of 2010 to sell my Harley and buy a G-5 Deluxe, I have considered the many ways I could set it up. The decision has recently been made, and all the parts I need and prices from CMW or otherwise have been listed, and as soon as I take delivery of that new UCE and break it in properly, I'm off to the races (kind of).
Rather than street racing or motocross, I have always been a fan of flat track dirt racing--where Harley used to rule. Some of my earlier bikes were British, and I always used to set them up and ride them like flat trackers. I had an old BSA that (when I managed to get it running) spent more time sliding through the desert washes outside of Las Vegas than it ever did on the street. In fact, with the lousy Lucas positive-ground electrics, the only light that ever worked was the brake (enough to get by in those days for daylight street riding out to the desert and back).
Later I had a Triumph Bonneville that was a decent street bike, but it seemed about twice as heavy as that Beezer, and was much less responsive out on desert trails (although it was 100cc's larger). After watching those videos posted by Ice (thanks!), I am reminded how much fun it was back then--barely enough money for gas and beer (and drag cars I spent a fortune on). I wonder if I can relive the past?
When I get my hands on this G-5, I am going to set it up as a "street tracker"--motocross bars, fat knobbies front & rear, and some type of solo seat (see new avatar). I like the CMW seat with springs, but I am not sure how well it would work on any dirt flat tracks or trails I find (I do not have the 'nads I used to, so I am sure the RE will otherwise hold up fine). Any advice on that seat?