I would say it would be okay with the weight, as long as you don't have a crazy tongue weight. I know some stay between 25-45 lbs for 2 wheeled bikes... you could probably do 60-75 lbs... I wouldn't push it though.
Remember to keep your load evenly distributed too. Last thing you need is trailer sway and have a jackknifing episode; could be fatal.
I saw someone last weekend towing with a 1200 Sporty with a homemade trailer and what looked to be a homemade hitch setup. Looked pretty neat and interesting.