OK dudes, thanks for the comments. I got a web page on my domain (hehman.com), and you can see more photos - cause I know you want to see the wood block, the 2 HP sticker, and the hole where the pedals should be. :) Check it out.
I'm going drink a Grolsch and inspect the bike some more - I am thinking now I did turn the thing upside down and empty the tank a while back. Need to get some air in the tires and do a little tightening - check the brakes... (any comments here?).
Can I throw a spark by spinning the wheel and dropping the clutch? Or will I need the pedals to do that?
OH! You can see the small chainring in back at the webpage...