Very interesting thread Eddie, and very nice bonnie, only just found it in a Norton forum!
I have a v original 68 I repatriated 10 or so years ago, and am in the throes of a similar-ish mild "pep up" hence my interest; Mine is v v original (ok, resprayed, but very nicely) so I didn't want to mess with it externally. I thought I'd share my thoughts and approach compared to your build? None of this is criticism, just compare and contrast stuff.
My own recipe is:-
Megacycle cams - dialled in - hugely impressive on my much-modded T140, albeit a hotter grind than the 510-05 mild ones in the '68 which was really more about known quality rather than performance, after some issues with other makes.
Dynamic balancing - reckon you were lucky without doing that, I recently recommisioned and rode an "as per factory" two owner T140 which is horrible above 60mph, so admittedly clearly a bad one!! My own T140 with other pertinent mods as well is as smooth as my commando at least up to 80. It was never as bad as that 2 owner T140 (they were built on the same day in 1975!) but balancing made a huuuge difference. The '68 pre-rebuild was somewhere in between, and definitely not as comfortable at a 70-something cruise as the t140 is. Which leads neatly into'..
Gearing up - not as far as I went on the t140 as that has very detonation-resilient Nikasil barrels, but find standard gearing still too busy. From memory I am at 20 teeth on the '68. It's a light bike and I am 12 and a half stone, it's a one up bike, all part of the equation I think?
I too was going to go the 5 speed route as the 4 speed is pleasant but a bit crunchy in 1st and 2nd, but ended up using the cluster I had got for it in my recently acquired Rocket Three. I figured (correctly I think, based on the results in that bike) the triples need a 5 speed more than any of the twins? Nowhere near the need to keep a Triumph twin on the boil as the triples.
Big bore- I went for an Aerco kit as I personally dislike the Morgo barrel shape? I had detonation issues wih this until I rejetted but I strongly believe a 750 can be as smooth as a 650, given a decently balanced crank, and sensible compression. I.e. nowhere near what you can get away with on a commando with it's much better combustion chamber. My hot rod t140 actually runs quite low (static) compression due to the low domed Asso pistons in the Gilardoni barrels, but is fast, sweet and smooth, helped I guess by the better ring sealing the nikasil affords? It will wipe the floor with my (admittedy singe carbed) 850 commando.
Belt drive - I had a Hayward kit for about 10 years on the T140 - run in oil which you are not really supposed to? No problems but after 10 years it started to shed teeth which is fair enough I reckon. Put in a new "red" belt and started to run it dry (I was experimenting with reed valve breathers so wanted a dry primary for this) - supposedly improved oil resistance with the red belts?? Whole belt stripped to the reinforcing wires inside a 1000 miles, a right mess. For an almost exact recreation of mine see Sump online magazine! Could have been lack of cooling from the oil, who knows?
http://sumpmagazine.com/classic-bike-workshop/triumph-t140-primary-belt-failure.htm.
I'm not trying to open a can of worms discussion wise, or divert this thread, as I'm aware belt drives can be divisive things! Once I abandoned it and went back to the triplex primary (in oil of course), I became aware of two things however?.
1/ I stopped worrying about a belt failure in the middle of nowhere and plans to carry a spare belt and necessary tools - which would have negated any weight savings!
2/ I couldn't actually tell the difference vibration wise or anything else (effective flywheel weight for example) before and after, except possibly a little bit more noise from the primary chain tensioner? Possibly.
You mentioned you weren't sure about the P&P seat? I cant post pics here but the totally original seat on my 68 looks v similar, albeit mine had the mid-season addition of a grab rail bolted to the pan, hence pan is bent up at the rear as everyone used that grabrail as a lift handle for the centre stand :0(
Cover should be plain vinyl not basketweave, but pretty sure that doesn't bother you or you wanted basketweave? P&P should have known though if you didn't?
I like schmozzles but those Camembert (as the French call them ;o) ) air cleaners are one of those lovely iconic pieces on a 60s Triumph that I would personally always have to leave on. I love the view of them from above when riding! A bit like the GT handgrips on most britbikes, or the "Z" plates on a commando, or the...I guess everyone has a different "do not mess with" list!!
I don't think my '68 will ever be the long distance tool my T140 undoubtedly is (4000 miles last summer) as that would entail too much money and/or other more noticable mods, but I do agree the Triumphs are lithe and wieldy in a way that not even a Commando can offer, by way of compensation!
Anyway, please excuse stream of conciousness and enjoy it, it's very nice!
Oh, and would love it if you DID dyno it! I estimate my t140 with some nice headwork, better flowing Mikunis, hotter cams and that low compression is around 50? But it's 50 lbs lighter than the commando, heh heh.
Dave