And done. I replaced all of the backlights and indicators with LED replacements, because I like the added brightness and lower heat.
If anyone else is interested in doing the same thing, this cart is what you'd need for one 1986 VFR700.
In case that link dies:
3x WLED-WHP5 Cool White <- backlights
1x 24-WHP Cool White <- odometer light
1x WLED-B-90 Blue 90 Degree <- High Beam
1x WLED-G-120 Green 120 Degree <- Neutral
2x WLED-A-120 Amber 120 Degree <- turn signals
2x WLED-R-120 Red 120 Degree <- Oil, Fuel lights
Total cost on them for me, shipping included, was ~$28 and they work fantastically. No cramming, wedging, jamming or trimming to work.
Slightly related note: anyone know where I can get a replacement tach for under $140? Mine is dead, but the wiring is good and the spark units are fine...