As long as "riding the shit out of it" doesn't mean doing 600 mile days or even 50 mile days riding on public roads. To ride on public roads in all of the Countries I have ridden in requires 1. A license plate. 2 Fenders of some sort. 3. Speedo. 4 Chain guard.
I built a very stripped down bike last year but still required all of the above and more in order to pass the safety inspection required for registration.
For long rides, the riding position would be extremely cramped unless you are very short legged. So in that sense the small tank is probably good, it means you will have to stop for fuel often, which creates an opportunity to restart blood flow to extremities.
Only a licence plate required in N.B. Canada.