Sprocket cover should be aluminum so this will work great. The clutch cover (outer) is chromed steel which will rust without any protection unless it's an aftermarket finned one, which should be aluminum. Any bare steel will rust quickly if it's not painted or chromed.
Glass beads will put a small ammount of texture in otherwise polished metal. Start off at 400 grit in one direction (until perfectly smooth), then step up 600, 800, 1000, 1500, 2000 alternating (perpendicular) directions with each step until no traces of the previous grit are evident. After 2000, polish with Mothers & it should shine like chrome.
I've seen you guys' site. When I get my cafe finished, I'm gonna have to take a trip over to the bowling alley to see your bikes. Looks like a cool place - they seem to book alot of good shows.
Good luck,
Jay in Philly