Yes, exactly right, there are factory specific race bikes and factory road bikes. We are allowed to use anything made by the factory for non competition use, which usually means road use. Some exceptions exist, piston and ignition to name two, are open and can come from anything.
There are specific capacity limits for Bucket racers but that does not stop someone using parts from a bigger capacity road bike engine or any non competition motorcycle engine and modifying them in all sorts of ways so long as the final engine capacity is within the Bucket rules.
The majority of Bucket bikes are basically standard FXR150's and a great deal of good racing is done with them. There are only a crazy few who go all out in the tuning stakes, I am not sure it does them any good and you do not have to go there to have a good time with Buckets, unless you want to of course.
PS, Hp on its own is over rated, it is the complete bike and rider package that makes a winning formula.
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