I don't normally like to just lift and post images from other blogs but I had to share this one I found on the Lucky B Design blog.
You don't see many factory photos or bikes like this. Looks to be a '51 TT Racer. Note the raised transmission and the magneto at the generator's location. You can definitely see how bikes like this influenced the street bobbers built by guys like Dick Hirshberg.
I then Googled Panhead TT and almost nothing came up. I did find the '48 below at http://roadboogers-1948panheadtt-bobber.blogspot.com The strange thing about this blog is that it's one page devoted to just this bike. A look at the guy's profile revealed that he has 20 blogs all dedicated to a single bike.
Nice, but a bit too shiny and pretty for me. Should old bikes be so pristine?
Almost a twin '47 from another of his blogs.