I then removed the aluminum passenger brackets, and welded these to the position where the front-most bolt is located. Like this:
Then I drilled out the mounting hole on the aluminum bracket, so that it slides over this bung:
I also had to grind the aluminum a little bit. The aluminum was at an angle with respect to the bung, which meant anything bolted here would be cocked sideways. A hit with the grinder made it level with the end of the bung.
Here you can see the Tarozzi universal rearsets -- brake side. I got these from Fast From The Past. The set consists of left and right folding pegs and adjustable shifter/brake arms -- and nothing else. I also purchased the spacer you see there, as well as the brake and shifter arms you'll see on down the page.
Then I bolted this assembly to the bung .
I skipped a couple of steps. You can see here the rod and the clevis attachment (both from Fast From The Past). I'll bet you're wondering what that's connected to....
Well, a couple of years back I went to Vintage Motorcycle Days in Ohio, and scored a brand new, never been used Nissin master cylinder and reservoir. I welded together a custom bracket and mounted the master cylinder right where the original footpeg attached.
That piece in the middle I had to "machine" myself. It's just a piece of mild steel solid rod from Lowes, which I cut, drilled, and tapped. The linkage arm is M6 thread, and the master cylinder is M8 thread, so I created this to connect them together. Works like a charm, and it was done with a Harbor Freight drill press and a regular old tap and die set. The brackets are 3/16" thick mild steel. I cut them with a cut-off saw, shaped with an angle grinder, and then welded them together. I kept the welds on the back side so the front looks clean and nice. Painted it with plasti-dip :)
If you look close, you'll see wires coming off the banjo bolt. This is a pressure switch for the brake light. I soldered the connector on and it plugs into the wiring harness just like the stock brake light switch. This was much simpler than trying to rig up a mechanical brake light trigger. I purchased the banjo from Cycle-Recycle Part II. The stainless brake line was just hanging around in my shop. It's a little long, so I routed it a little funny so the extra line is out of sight under the motor. Works for now, I'll get a shorter line later.
The shifter side was constructed pretty much the same. I bought two M6 ball end linkage connectors from McMasterCarr and attached them to another linkage that I bought from Fast From The Past. I drilled out the stock shift arm that connects to the shifter rod, so that I could attach the rod ends. You'll also notice that I used a thicker spacer (also from FFTP). This is so the shifter clears the kickstand when it's in the up position. You will absolutely need a linkage arm that's bent like this in order to clear the kickstand. It's a very tight fit. (Alternatively you could cut the kickstand off and weld it back on near the front, but that was too involved and an offset linkage was way easier).
Combined with a set of Daytona handlebars, these rearsets turn the V65 Magna from a laid-back cruiser to a standard seating position, which allows for more control and better handling in the twisties. The "rearsets" are very mild, the seating position is neutral, your feet are directly underneath you, so it's easy to stand on the pegs when going over railroad tracks or an unavoidable obstacle -- a difficult feat with stock pegs.
Seriously, the daytona bars and the rearset (standard-set really, but still further back than the V65 Sabre) completely change the attitude of the V65 Magna. In a straight line, it's CONSIDERABLY easier to launch this way, and wheelies (unexpected or otherwise) are much easier to control, because your feet are under you and still supporting you. You're not sliding backwards. Twisties are where this setup really shines though. I'm seriously considering un-doing my lowering, because it's so much more fun now that I want more ground clearance.
This mod wasn't cheap, but it wasn't that expensive either. Tarozzi rearsets are reasonably priced, and nicely made -- although I'd opt for the raw aluminum next time. The black wrinkle-coat wears off too easily. The extra parts required (linkage rods, ball ends, clevis, spacers, etc) are also reasonably priced. This mod did however require a bit of custom fabrication, and some welding. It's not a bolt-on, but it's also not out of the realm of possibility for a shade-tree mechanic. That's all I am, after all. The biggest tools required are a drill press and a flux-core welder, both from harbor freight (around $200 for the pair). You could make do with a hand drill and a vice in a pinch, and have a welder attach the bungs for you. If you go this route, I'd recommend you bring a bolt and washer to hold the bung in place, so he can just weld it and you can go on your way. Don't forget to strip the paint first! Also, don't forget to paint the bung and the stripped area around the weld, or it'll start rusting at the first hint of humidity.
Anyhow, I hope you found this useful, feel free to comment below!