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Congrats on the SV. You're going to love it. I've owned a 1st gen since I bought it brand new in '01. Mine is a naked with handlebars now like yours but was an S version originally. Having ridden both styles now, I definitely prefer the more upright N style.
I've heard the SV called one of the best bang for the buck bikes ever made and I can understand why. The bike is just a ton of fun to ride. And don't be fooled by statements that it's a beginner's bike. Sure, it's an easy bike to ride because of it's predictability, but it also has plenty of power (~70 HP), lots of torque, and its super light weight leans over into corners with ease. I just bought a 919 last week and love that bike so far, but I don't plan to ever sell the SV. I know I would miss it too much, and with it being over 10 years old now with a lot of my time and $ invested in it, it's worth more to me than what I could sell it for.
If it hasn't been done already, the first "mod" I would do would be to change out the fork oil with a heavier weight oil. In stock form the SVs are too soft in front. If you want to spend a little $, some progressive springs (e.g. Sonic Springs) would help also. The other change I would make would be to get a slip-on. I'm a little embarrassed to admit it but I rode it for 10 years with the stock can then finally got an inexpensive Delkevic stainless slip-on for it. What a difference (in sound) that made. Maybe the best ~$150 I ever spent.
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