If your R65 engine is lugging at just under 45 mph in top gear, then there is definitely something different about your bike. The speedometer is driven by the transmission's output shaft, so if that is indeed spinning at the same RPM as the speedometer is calibrated for 65 MPH, yet the engine is going too slow in RPM, must mean that you have a rebuilt transmission with an extra tall gearset inside. This would be a "rara avis" or rare bird, indeed - but it does seem to fit the available evidence at the moment. I've heard of very few places where one could get the transmission ratios changed on this side of the pond, but there are some.
The W1276 speedo is the correct one for a 31/9 or 3.44 final drive ratio. The other R65 speedo seen is W1318 for a 32/9 or 3.56 final drive as I have on my LS. It give good strong take off, but top end and fuel mileage drop a bit.