I have to say I really like the approach, the unclutteredness is refreshing. Very 'clean' indeed.
I do have my doubts on the functionality of the rear brake though... It looks great, but the rearsprocket is about the dirtiest/greasiest place on the entire bike, and considering you would have to buy a new brake disc/sprocket combo whenever the sprocket or chain is worn, it does not seem to be a very practical solution.
Actually, I think the best thing about Harleys is the belt drive, now that's functional.
And that front tire! It's amazing the thing can turn at all. Of course, the side stand is no longer needed ;-)
In Britain (maybe in the US too) there's a class of bikes called 'survival bikes'. They are all about functionality, and chopping off all unnecessary bits. The exile bike reminds me of those, although in general the starting point of a survival bike is an old bike instead of a brand new one...
(see for instance
www.radicalbikes.cjb.net)