well this is an XLCR:
The short version is that they were made from 1977-79, and were the "sporting version" of the sportster. Legend has it that Willie G wanted a personal bike that was a street legal XLR racer hybrid of flat tracker and road racer, but Dick O'Brien locked him out of the race shop, forcing him to figure it out on his own. The reality is that the bike was designed by Willie G, Bob Modero, and Jim Haubert in committee and based in part on a custom XLCH Willie already had. The bike was a flop in the 70's because it handled like a city bus but it looked cool with it's dean wixom style fairing. They were actually quite quick for the day and the best part of them was that Siamese exhaust that wraps a pipe around the left side.
The 114 Fat Bob engine is the "Big" optional version of the Milwaukee Eight engine for the fat bob chassis, standard is 107 ci. It makes about 119 ft/lbs, and based on what I can see in the pic - the fat bob doesn't get the liquid cooled heads that the touring bikes do (but I could be wrong). CW tested it and saw about 83hp at the rear wheel.