but with a modified alloy barrel to help it pass emissions laws
Is this something that needs to be undone on a 2004 bike?
Typo, should have referred to the cylinder
head, which on the Electra-X is just a bigger version of your Machismo's, it's just a more efficient pent-roof design with a flat-top piston compared to the classic Bullet's hemispherical combustion chamber and domed piston, which was common on loads of old British bikes way back when. The EFI/UCE models have a very similar combustion chamber, although the cylinder head casting itself is quite different. The actual alloy cylinder barrels on the AVL 350 and 500s are nothing special, though as Paul points out, alloy was in this case probably essential for heat dissipation. That said, Hitchcocks' 4-valve top end conversion for the CGT535 has a cast iron cylinder!
The cylinder head is actually a good one, keep it! It works very well if your bike is configured for non lean-burn, too.
The heart of the lean burn system on these is the exhaust pipe, which has a narrow bore inner pipe, this helps the engine run deliberately hot along with the lean-jetted carburettor in order to burn off more of the partly combusted hydrocarbons in the exhaust. On the 500 AVLs this was often replaced by a "straight through" down pipe from Hitchcocks' along with a sportier silencer and carburettor combo when the bikes were tuned up a bit. Beef up the bottom and and fit the right cams, and what was intended as an emissions dodger turns out to be a surprisingly fun old banger which can actually get a bit of a move on.
A.