That one is more intriguing to me because type 4 pipes can be found relatively lower cost and fit with stock tank and water box.
It looks like the weld line just below bung 1 in the picture is the end of the water jacket, bung 1 is for the spray bar into the wet part of the pipe...if that's all correct it makes sense to me.
I'm not sure why there are two bungs in the water jacket. I was expecting just one for the water out of the water jacket, what is the reason for two next to each other right there?
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