Thanks for your responses. The V65 was a v-four with tons of HP and was developed in the very early days of shaft drive. I too, remember reading about rear end lift in these early models. I don't know that this is true anymore today. Maybe I just don't get on the power hard enough in the turns with the Sabre to notice anything, being the old fart that I am. And then, we don't have alot of twisty roads around here anyway.
As far as removing the rear tire, I recently had the rear tire repairing on the Sabre and removing the driveshaft simply envolved backing off four bolts, no belt covers to remove, no belt adjustment check needed on reasembly. Other than annually checking rear differential fluid, no maintenance required, no belt or chain to wear or adjust.
The rear wheel power loss I don't know. H/D has always used this as a marketing point for belt drives. A friend of mine said the reason H/D uses belt drives is because they have a long standing deal with the belt manufacturer to use belts on their machines.
I will say this, power transfer to rear wheel of my V-Rod is very smooth and quiet. If belt durability and longevity isn't a issue, than I guess if it works, don't fix it. But a chrome covered driveshaft would look great on this machine!!!
Pete