Little correction, Dave - SFs are 360 degree twins, ie both slugs going up and down together, same as your Norton or Trumpet. The out-of-balance phases on 360 deg twins are fore and aft, when the counterweighting of the crank isn't counterweighted by piston movement. I think the factory cleverly designed the balance factor of the big twins to direct vibes in a tilted fore and aft plane - there are parts of the bike that suffer the effects of vibration more than others, which is probably why nearly every SF if ridden hard over the years will break the rear framer tube U and SF1s nearly all broke the instrument support bracket. But the handlebars and footpegs from my experience haven't ben too dramatic. As you say, it's always there, but doesn't make the bike unpleasant to ride - unlike one that has 'issues' and shakes like a shizebox (Nigel White's SF2 broke every lower rear engine mount on our ride together over the Nullarbor - the engine was hanging from the two studs under the tank!).
Balance of any 360 twin is very tricky stuff ... even rephased to 270 you will never have a motor that smooth in every part of the rev range. Even 180 deg triples have an inherent imbalance. Counterbalance shafts are incredibly effective - modern Royal Enfields and all the new 270 deg twins out there are amazingly smooth. Laverda could have produced the SF with counterbalancing and with a lighter crank, becauser the counterbalncing bobweights also act as flywheels.