Browse around the board, look through past threads (and stickied threads too), use the search feature on mods that interest you, and check out the signatures on user profiles - plenty of ideas will sprout up.
Before you decide what mods to do, you'll have to figure out what YOU want out of the mods (show or go or creature comfort, etc, etc).
I'd recommend riding the bike for a while before you start shelling out serious $$ for add on parts. The '07 RR is pretty darned good right out of the box.
If you're going to start throwing parts at it I'd recommend stuff that actually serves a purpose. First and foremost: Spools and a rear stand. I don't know if you can really call this a 'mod' but it makes doing your regular chain maintenance a snap (and looks cool too). It's relatively inexpensive too. Maybe a taller windscreen if you want it. Stop there and ride the bike for a month or two to get to know it.
The suspension/brakes are pretty darned good from the factory. The engine makes a pile of power. Most of the stuff out there is 'bling' and doesn't really serve any noticeable purpose on the street unless you're really REALLY good.
It boils down to personal preference I suppose and what you can afford.
You should get frame sliders. Best mod you can get. Get a new exhaust, get rid of the fender and you are set to go. I'm thinking about getting a puig dark smoke double bubble windscreen, my windscreen is all scratched and ugly.
I own the same bike. as said before, it is very good right off the showroom floor.
You will have to spend a lot of money to get any gains from the engine so I would not waste my cash on anything to try to acheive more horsepower. You would need a full exhaust and new fuel mapping, and even then your gains would not be signifigant.....maybe 5 to 7 horsepower. From there you would have to do costly internal work that would likely reduce the reliability or longevity of the motor.
The stock suspension is more than good enough for most any rider. Suspension upgrades would be the most beneficial performance mod, but you would have to be a pretty damn good rider to be able to exploit them on the street. Good supension components are not cheap either.
Frame sliders would be good and could pay for themselves in one tip over. Aftermarket levers such as Pazzos add adjustability and good control feel. Braided steel front brake lines are affordable and are a good upgrade.
First and foremost, get all the needed riding gear if you don't have it already. A good helmet, gloves, boots and leathers should come before any mods for the bike.
Also, pick up a copy of "Sport Riding Techniques" by Nick Ienatsch. A performance mod for your head that will pay dividends on every ride.
As for a fender eliminator (usually the first mod before the dealer tag gets swapped before you get a real plate), you don't need to spend any money. A hacksaw blade and a drill bit are all that's needed to do an at home redneck eliminator. It actually looks pretty good too.
As mentioned before, get some frame sliders on that thing asap, if you dont wanna cut the fairings do some no-cut sliders.
A set of stands, or just a rear stand and some swingarm spools is a great investment for cleaning the bike, chain, lower fairings, wheels, etc.
You can pick up a set of stands (or just front) of the forum here or ebay for a good price, along with some sliders. After this i would do an integrated tail light for the 03-06 (tripage makes a good one) or clear alternatives, iwin (strobes when the brake is applied, its what i have) etc, a exhaust, somes grips (d3 is nice but 45 a set), smoked windscreen, hid's, reflective rim stripes, etc.....it never ends.
Hi all, apologies in advance for the negative 1st post but i have a 2003 RR which wouldn't start although fuel pump was ok etc just span really fast on the button but wouldn't fire. Turns out cylinders 1 and 4 had 40 psi and 2 and 3 20 psi so engine pretty well toast although was running fine...