I don't really have a problem with modern bits on an old bike, and I have a difficult time pegging one with being any more ill handing than the original.
Take USD forks for instance. They are generally lighter than the skinny spaghetti forks on the old bikes. Not only that but the valving is far superior to damper rod performance.
So what if the stock geometry is kept?!
Considering them as a pure upgrade over the stock forks, then you're still upgrading the front end, less unsprung weight, far less deflection under load etc. Calling them out for being setup for a lighter bike is kinda silly as well, no offense intended. If one has considered dialing in the spindly stock pogos, why would the same fellow NOT decide to rework the USDs to suit his bike build? Stating that it must be so is akin to stating that the moon is indeed made of green cheese.
As for the rear end....well, I can kinda see that. Often due to the frame layout, the significantly longer monoshock swingarms can look pretty odd sticking out from the back of a bike. The bike Bill posted looks unfinished, perhaps there's some hope for it yet, though I do think it looks awfully long. Were it me, I'd go with an upgraded dual shock swingarm on a dual shock bike unless you can tuck the newer mono rear end under sufficiently to not look like a rolling wiener dog.
To this end I'm setting an '82 XS650 up with a complete '01 R1 front end (with matching wheel and brakes) and a TBD box section dual shock swinger out back(+2" for front end weighting), along with a nice 17" alloy rim there too, modern performance tires and spiffy in all ways too.
If someone has an issue with it....well...tough titty, it's my bike ya whiner!
As to the original intent of this post, I'm still of the mind that trying to nail down a set definition for what was really a mindset rather than a model is going to be really hard. I still prefer the term 'Special' as it allows some latitude while still indicating the unique nature of the build. A 'Period Special' would be something equipped with 'period' gear, evincing a nostalgic reverence, 'Modern Special', 'Track Influenced'...'Racetrack Regugee'...
whatever, I call'm motorcycles.
(and I don't like green cheese)