The power delivery at rev range is very different between the J125 and original 75 and is probably the real advantage of this conversion, allowing for touring revs, rather than small road screamer (75). There is certainly more that can be done to increase the horses of the 125 but wide port does mean that the piston/rings become the weak link if you look to raise the exhaust port duration, meaning that a piston swap is a worthwhile consideration.
I guess that this all comes down to what you want from a Luna or J machine. One telling sign for me is the number of casings that I've found with damage to the endplate studs, which is a common damage area on 6-stud LI format engines but seems all too common on the 4-stud J/Lunas. Perhaps these machines really were not intended to be used as tourers, especially uprated tourers, as we would look to make them (or high power shorter trip machines). They seem reasonably good for the 'pop out for a pint of milk' use that they were designed for but asking too much more is pushing it.
Sure, they can serve as a longer distance machine, as proven by my Kelso trip and Rimini's Euro crossing exploits, and more's the credit to those who do push the boundaries
Your airbox mods look very neat and tidy.
Adam
PS - I'll have a look in my little black book to see what gearing I ended up running as the standard 75 was too short and the standard 125 too long. I remember going to the lengths of having an LI front sprocket machined for single row chain use (sprockets now available form Rimini and others) and having a half-link chain made to allow for the combo that I ended up needing.