For that price the thing should come with street legal accessories. I'd love to ride that thing to work in place of my SV650s and pay for NO gas. However I wouldn't want the bill once the lithium battery finally dies, probably half the cost of the bike alone.
You know, the 40-50 miles works for me, but with that much motor I could run a Honda 800 or something - not a toy but a real street bike commuter. Heck, that motor would run my '80 spitfire up to about 40 mph (unless the numbers are grossly inflated. Don't you just hate that 'peak power rating' ****, whether it's bikes or stereos).