maybe the arm has turned on the shaft..if not then
I would pop the side cover off have a look in there...
any noises ?
look for things like main clutch hub nut come lose / colapsed bearing
in the pressure plate.. At that mileage I wouldn't think the clutch plates
should be that worn...unless you do alot of clutch slipping...
Lay the bike on it's side when you remove the cover as there is quite
a bit of oil in there even though it's a dry sump motor..

__________________
Harley Davidson..
The easyest way to turn gasoline into noise with out the side efect of horse power...