Dan,
Remeber the single sided NSR/RCV looking bike that we thought was a 250 or 400 Honda at the last track day; it was a 650 Hawk. I'd buy that in a heartbeat. Something about old bikes and rebuilding makes it all worthwhile.
I say go for the old stuff. That GSXR may not be the perfect race bike but it's a very good track bike. A few minor modifications and you are on your way. Get new springs, shock etc. to make it new again in the suspension department, a tune up, and you are ready to go.
Plus GSXR's have the enviable record of tons of aftermarket kit for them. They enjoy a support few others do.
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2001 RC51 and 2004 R1200GS (RIPs)
2006 HP2
2008 HP2 Sport (mulling it over)
aka: SQD8R
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