Here is the 55 panhead motor on the bench. Notice the anodized aluminum pan covers and six bolt d rings.
Cam cover off. Everything was very nice. The cam was actaully usable. The breather bore was very nice and did not have any scoring in it. 
The exhaust valves still had the original caps on them . My dad's first 53 panhead had these on it. The exhaust valves had little caps on them so that the valve could spin 360 degrees. The thought behind this was to allow the guide to wear evenly and last longer.
Check out how tapered the valve is. I guess the valve cap idea was not that good of an idea.
and the poor guide! I am not sure how to take these out. The guide is so worn out that it is paper thin around the edges. 
here is a picture of the exhaust valve collar with the special keepers.
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