The Fix

Note the dropped seat frame and the "attempted seat cowl", or whatever it is over the rear wheel.

Overall, a pretty solid bike, but there were some design, um, flaws that needed to be handled.  Incidentally, this is one reason that I didn't feel the least bit bad about taking a saw to it.

After some work with the saw.

A bit of work with the reciprocating saw and the design flaw was gone.  Although, one could argue about the aesthetics of it at this stage.

New seat frame and hoop installed. 

The new seat frame took some time to get right.  Note how the tank is in line with the frame and the end of the hoop is slightly back from the rear axle.  I messed with this quite a bit and finally decided that ending it at the rear axle made the bike look too short and stubby.  Going a couple inches more gave me the look I wanted.  Incidentally the seat cowl is cut from an identical tank.  Again, the tank was roached so I didn't mind sacrificing it for the cowl.  It was going to be used for scrap anyway.