Nooooo, don't chop a classic!!!!
Thanks for your replies, fellas. This is the previous owner's photo. As you can see, the state in which I bought this bike was already highly modified. I would be hesitant to chop up a stock classic, too.... The paint is gonna go. Red and purple? Geesh.
Also, while I've got your attention, the right side is smoking like mad. The previous owner had just completed a top end rebuild, 20 over. Didn't smoke before, but now it does. This leads me to suspect a cracked ring. I'm going to take it apart and check it out, but if that is the case does anyone have any advice about rings and possibly pistons?
Furthermore, this forum is fantastic--thanks to everyone taking part.