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Coming along nice
If you have the means i would take it to a dyno.
I know in Ohio I can insure a vehicle that I don't have titled or registered in my name. If doing a couple bandit runs in the Canyons, may be worth insuring it if you can. I think a cop might be more receptive to "I'm working out a few kinks on my track bike" if you can follow the statement up with "I do have it insured".
Cops here will give a warning for registration and plate issues, but never look past seat belts and insurance.
Just a thought.
Nice project. I used to own a purple/white FZR600R, the euro version of the first year YZF600, with it's sort of fake USD forks.
Your bike is like the grown up version of it