Warwick - was this just the Alpha bearing in the stock potmetal rod, or Alpha in a new steel rod, or a complete Hitchcocks crank? The crank is the key to making power. Without it, every "throttling up" ride's a crap shoot on the hinky stock bottom end and potmetal con rod. Next in line is a forged piston to take some pounding, otherwise the stock soft alloy unit frags & takes out the cases. Then there's the matter of obtaining an alloy cylinder, unless you just ride in the winter.
As best I can tell, there's no way to get a steel rod, roller bearing big end, properly balanced crank assembly, and forged piston in alloy barrel for less than about $2K even doing most of the work yourself. As Ace has pointed out many times, without these items you're up the creek, power-wise. The best option I know of is to get the Hitchcocks new flywheels (FLYWHEEL SET FOR STEEL RODS, UK MADE
Part No: 90128A , £399 / $520), and the steel con rod with fitted roller bearing (CON ROD WITH FITTED ROLLER BIGEND (RE13), FORGED STEEL ; Part No: 90125A ; £495 / $650). These are about £900 / $1170, and you could assemble them yourself but you'd still need some presswork to transfer the shafts over from the old crank. But for only another £150 / $200 you can get an already built crank (CRANKSHAFT, LONG STROKE, INDIAN 500cc, Part No: 200160A ; PART No. 200160 ; PERFORMANCE CRANKSHAFT, 500cc INDIAN MODELS) ; £1,050.00 / $1370). You'd have to find someone that would supply a good alloy or steel con rod and roller big end bearing, then tear down & reassemble & rebalance your old crank for $1500 just to break even. Even $1600 would be a smoking good deal, as presswork isn't free or without risk.
I'm thinking that if you got the 500cc 9/1 piston ( PART No. 42877/40 ; PISTON, 84mm +40, 9:1, C/W RINGS ; £88 / $120) and the 2mm compression plate (PART No. 200480 ; COMPRESSION PLATE 2mm ; £12 / $16) you would just be out a bore job on the existing cylinder & some gaskets. With the plate you should end up around 8/1 CR, a useful increase over stock, OK even with an iron cylinder. Then just ride it reasonably until you get the $2K socked away to allow you to play in the lofty 30 - 35 BHP stratosphere. Ace's intake retard strategy will allow it to spin a bit more and reduce kickover resistance. The better piston will survive the slightly higher RPM way better, and the stock oiling system will have plenty of volume when running freely instead of lugging.
As my old drag boat buddy Vince told me years ago - "Speed costs money - How fast can you afford to go?" Without the whole balanced crank/steel rod/roller bearing/forged piston/alloy cylinder package, pushing the Bullet motor hard just starts the fuse burning.