Putting aside questions of whether you 'should' chop a Legend
Would you be putting it in a new frame, or modifying the stock one. The problem I'd see w/ option B is you can't really get that classic low-slung chopper rear with the stock frame - you're always going to be sitting over the wheel, not down in front of it.
You'd also have to fab up some kind of forward controls... there are a few folks here who have done that, do a search in this forum.
IMO, just extending the forks won't look right... just kind of strange.
Here are a couple links to folks who have done the custom/cruiser route with their Hinckley 3s:
Triumph Hybrid (Check out the 'T-Rod', pretty cool... I think the owner is on this board somewhere).
Mild bobber
I think user Tre900 also went the bobber route, dunno if he has any photos posted.
HTH, good luck if you decide to go for it, be sure to post pics...