cheaper way to fix?

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Look into recalls. My 01 yamaha r6 i had a while back had the same nut problem. They backed off due to the direction of rotation and no keeper on them to stop them from backing off. It ended up being a factory recal. They fixed it and the damage that was caused by it
 
Maybe start by googling jack shaft or output shaft replacement on a 2006 Roadstar to see what's involved then price the parts. It looks like it might come out as a cartridge which probably isn't a big deal. If you have to split the cases that's a whole different animal. Never done it just my $.02.
 
The shaft should be harden and still usable just clean it up.find a pulley at a bike junk yard.
when putting it back together after the nut is on and tight stake the threads with a punch on the shaft end.should work ;)
 
should have a ....

lock washer.

Must not have used one??
 

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I'd wind a new nut and pulley on there, take the nut back off, drill and pin it, add some weld and then ram the nut back on. Weld the nut when done. For a $1,000 you can get a lot of miles out of it before the trans blows up. If / when it does just junk it[;):D
 
Hard to tell how bad the splines are.

If there's enough left to engage the pulley and hold it true, I'd torque the nut down, weld the friggin' nut 100% to the pulley and the shaft.

If the repair fails, "Ghost Ride" it off a cliff. (Premiums paid, of course.)

.
 

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