Maydin,
That's a good looking creation. What is the noise level like with the chains from the high rpm electric motor?
This isn't intended as an unwelcoming comment, but you may want to publicize your creation over at the Endless Sphere or VisforVoltage forums for a more lively discussion and possible suggestions from their user base. Those forums are much more general, wheras this forum is more directly linked to the goldenmotor product. The idea is you head to a general forum for homebrew, diy and a variety of kits, and you head to a vendor's or manufacturer's forum to discuss issues more specific to that brand of conversion kit.
I'm curious about a few things on your conversion:
What are the specs on your motor?
What reduction are you using to drive the rear wheel?
Battery type, voltage and capacity?
Gears or no gears on the electric powertrain?
Does the motor freewheel?
What controller are you using?
Throttle type?
Max Speed on level ground?
Motor only range?
How much time and $$ did you spend on your conversion project? Any specialized equipment involved in the conversion?
Edit: I voted for option 2. I don't know why, but I like that option better