The one shown in the used section is for a twin engine which has a sprocket, not a gear. I gather it also runs in the opposite direction to the auto a/r unit fitted on Redditch Bullets. There doesn't seem to be any shortage of SR1 magnetos, only the a/r units!
The newer BT-H flange mounted electronic magnetos DO work nicely on the Bullet, my AVL hybrid runs one, as will my Not a Fury, and Count Johnny who posts on here occasionally has one fitted to his low rider Bullet custom. The good news is that these have electronic advance and retard built in, so you can use the plain drive pinion off the contact breaker drive, the taper is the same. HOWEVER the bad news is that they are not a simple bolt on fit, as the K1F flange has a larger diameter centre boss than the SR1, and the mounting stud holes on the BT-H magneto flange are too far apart to line up with the holes in the Indian Bullet timing cover. You have to get the magneto body machined to fit Bullet crankcase. I have tried using the RE twin magneto adapter plate, but it moves the magneto too far out and the timing pinion then won't fit because it fouls the crankcase! Forget the adapter plate... If the BT-H still appeals, talk to Bullet Whisperer as he has fitted three. BT-H also sell a platform mounted version, which will let you play with mounting straps, mounting plates and shims to get everything lined up properly...
Another option is an electronic update on the old flywheel magneto. Our hosts sell the PVL crank-mounted CDI ignition which replaces the alternator. Great for competition use but no use for the street as there are no lighting coils. However, Electrex World sell a version which does include lighting coils, have a look at their STK-100D stator kit, quite a bit cheaper than a BT-H magneto too:
http://www.electrexworld.co.uk/acatalog ... d_350.html
FAILING THAT if you want to run battery-less you can just replace the battery with a 2MC capacitor, so long as your alternator and regulator/rectifier are in good condition. The 4 wire alternator will already be running the headlamp on AC via a regulator, quite separate from the DC side. Quite a few people are running a capacitor successfully with points and coil ignition. If you want to do this with electronic ignition, make sure you use one that won't go full advance at low voltage, like the Boyer Bransden Mk3! The Pazon Surefire still claims to work well with less than full voltage, although the Boyer Mk4 was allegedly brought out with the low voltage problem sorted.
Hope this helps.
A.