Steve,
You started the discussion!!!!!!!
I know belt drives are used all over the auto and motorcyle industry. I have not followed motorcycle racing recently. Back when I did follow it, every bike on the course had chain drive.
I think Harley uses a belt for reasons other than performance.
I am not saying it could not happen, I just don't see a problem with chain drive as it is so effecient.
If a belt drive came along that was better, I am sure it would reach the market eventually.