I cut the piggies off about 3 years ago a couple months after buying the bike. About six months later, I drilled the rear baffles. Rode it like that for a while and liked it, but wanted more. Looked at all of the alternative exhausts out there and decided for now, it would be cheaper to do the Ragnar cut before buying another complete exhaust. So out the baffles they go. I cut them out about a year ago.
Haven't noticed any decrease in power. Can't prove it, but I'd swear it's slightly more, not less. Gas milage? Didn't notice any difference at all. It's still a big bike with six cylinders and six thursty carbs. I get about 35 no matter how I ride it.....about 30 two up (we're not small people

)
I have to warn you though.......since doing the Ragnar cut, it's waaaay more tempting to roll on that throttle because the sound you'll get is just too dam badassed. I find myself changing gears at 3000 rpms instead of 2000 most of the time because of the smile factor.
If you want Harley hunting pipes, then bust out with the hole saw and have fun.
Here's a before Ragnar cut (the piggies had been cut and the rear baffles had been drilled is this video)............
And here's the video after the Ragna cut..........
[url=http://www.youtube.com/watch?v=-BcQVW_AOw4#lq-lq2-hq-vhq]Honda Valkyrie - after Ragnar Cut]
Another word of caution. If your pipes are still unmolested, be prepared for droning. After modifying the pipes, they will drone. The more you cut/drill, the more the drone.
The drone also depends upon the type of helmet you wear and if you have a windshild or not. If you wear a 3/4 or a full, you'll get it. If you ride with a half, you might.
I wear a half 99.99% of the time and don't notice it, but if I wear either my 3/4 or my full face, then I get the drone.
If I ride without the windshield regardless of helmet, I don't get the drone.
I've got an idea about how to modify the pipes with the Ragna cut and get rid of the drone. After I finish a few other projects, I'll tackle that one.
If it works, I'll post the mod here and whether or not it works.
Good luck.
