The bottom has a good undercoat on it, and the finished portion of the frame has been sprayed matt black.
There are just a few minor frame updates to finish and it will be completely up to SV specs. Better actually: thicker metal used everywhere (with more flanges), X bracing inside the lower rear frame, heavy jacking plate (visible above), and continuous welding instead of stitch welding in the upper rear frame. (Actually, I think the SVs had continuous welding too.)
I will need longer half-shafts (with CV joints) and vented rotors for brakes (plus the 15mm spacer blocks between the calipers to make room for the thicker disks). Then it's on to the body work in January!
Merry Christmas and happy holidays to all!