I would think it has something to do with the belt... wearing in... sounded like mine was coming from the rear wheel area... after several thousand miles it went away... but of course your sewing machine sound may be different than mine... lol
Open pipes or slip-ons will mask the sound if it's the same one I have. Mine's the typical HD Sportster valve-train "clickity-clickity" noise. Nothing to worry about...
You must ride without a helmet. I normally ride with a helmet and didn't hear anything like that, then I took my son for a ride and stuck my helmet on him. There are so many other sounds you can't hear witht the helmet on!
I know the sound you are talking about. Sewing machine is a good description. I can still hear it over my vance and hines slipons, albeit, less than when it was stock. The noise varies in different rpms and from what I've been told is 100% normal for sportsters. They have very noisy engines. I have roughly 1700 miles on my 2006 883 low and I still hear it.