Whatever kind of clutch it is, that see-through cover is awesome! The toilet seat is a trademark feature but I'd try ditching that right away. The hugger doesn't do anything and as long as you go fast, I don't think your buns would roast too badly. I bet it would look cool with the pipe exposed plus drop a pound or two.
Good color choice on the rearsets. The lower exhaust shields too if those weren't already black. Looks nice!