I am working on something that is along the same lines : to build the VFR750RR that never was and restore a bit of the race heritage to an already great bike. Got a great deal on a mechanically flawless yet cosmetically challenged bike, called up sharkskins and had some CBR1000rr fairings sent out. Combined with suspension and wieght improvements and some trick paint to come later, I figure I'll be sitting on the "next" generation of Honda Interceptors. Mine is a bit more on budget, being in college and whatnot, so I opted for rebuilt firestorm forks, RC51 calipers, and CBR rearshock. Still a marked improvement. I'm keeping the single sided swingarm because its iconic, damn the weight right? I was inspired by a few digital concept peices that really sparked my interest even more. So far things are on schedule more or less and I managed to shove a size 6 girl into a size 2 dress. I don't know how your bodywork fit up, but it fits the gen 4 like a glove.
