If I was going to view it, as well as the normal stuff such as consumables (tyres, brake pads, wheel bearings, headraces etc.) condition and condition of cosmetics (which could hide mechanical damage), I would be looking for:
* Confirmation that all recalls have been done
* Confirmation that the bike has been serviced, at least to the service manual
* If the belt has been replaced recently
* If the oil pump drive gear has been replaced recently (and with what)
* If the shock still has any damping left in it (or oil)
* If the updated primary adjuster has been fitted (I think these came in 2000)
* If the front disc bobbins are worn
* If the Check Engine Lamp is 'off' during normal running
* If the fuel pump is noisy
I would also be looking for all the nice stuff that got put on later models:
* Updated exhaust header bracket
* Updated gear change
* Sprung rider's footpegs
And then the recognised aftermarket stuff:
* Nice muffler or Pro-Race system
* Forcewinder or NHRS/Hammer type sealed spam tin air filter
I will have missed loads of stuff, but dont worry if it is not all 100%, just think about what you might want to spend on it.
Making it like the one in the pics is not going to be cheap, and whilst you are pulling it apart to do this, regardless of how nice the bike is, you will want to do things like paint the frame, paint the wheels etc. otherwise it will look rubbish (like any one of my fleet
)...