No, you're bang on the money, there.
The AVL classic may have been down to pressure from Kevin Mahoney on the factory to come up with something that looked more like the classic Bullet. I think American buyers wanted the old style tool boxes and other tin ware rather than the slightly odd styling of the Electra-X. The UK and European importers never went for this, "You'll have the weirdo tool box and you will like it!" Many didn't...
Again the word "Classic" was bandied about a lot by the RE India marketing department. The early EFI 500s were the Electra-EFI in the UK which I gather were sold as the G5 Bullet in the USA, the Classic (EFI) came out shortly after which was the model C5. The Electra EFI and G5 continued the Electra-X styling, while the Classic/C5 had the traditionally styled tin ware and 18" wheels.
The iron barrel is closest to the original 1950s Brit bike, but the ones imported en masse to the UK have electric start.
In the IB's later years the UK importers offered the following choice: 4-speed 350 kick start, 4-speed 500 kick start, 4-speed 500 electric start, 5-speed 500 electric start, but only as the Sixty-5 model in the UK (the US and Europe got the 5-speed E/S de luxe, as well as some Sixty-5s sold in the US), and the Electra-X 5-speed AVL 500. I went to the Watsonian-Squire open day in 2008 where they had the last of the dinosaurs on display.
A.