Paul,
The stock driveshaft is a torque rod encased in the outer sleeve. The caps at both ends are not attached to the outer sleeve, only to the torque rod, allowing the torque rod to absorb shock loads from one end of the driveshaft to the other. I presume the function of the driveshaft must be somewhat overkill if we are able to get away with eliminating the innards. The inner rod is/was prone to going out of true, which is the heart of the balance problems with driveshafts.
This picture shows the end view of a stock drive shaft:
And this blurry one shows a balancing weight on a stock driveshaft:
I think the drive shaft is the same for the 710 and 712.
The parts manual gives some hint how complex it really is:
-Evan