Done already:
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Rear disk brake conversion from a Kawasaki Tengai 650
(Complete Rear braking system + Swing arm)
Results: 40% Increase in Braking
Modification difficulty: Hard (Needs good mechanic)

White Power Suspension (Front & Rear)
Cobra ISDE exhaust pipe
Results: 30% Better handling, +3-4HP
Modification difficulty: Easy

Conversion to SM
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(Includes 17" wheels and Dunlop D207 Racing Tires)
Results: 60% Better road handling, Very limited off road use, 20% improved braking & lots of fun :)
Geometry changed from 40(front)-60(back) ratio to 55(front)-(45)back
Modification difficulty: Easy

Complete Kayaba USD front system (From a KDX250SR)
Dual pot caliper and a 320 Talon oversized braking disk.
Front SM fender.
Dual UFO front Headlight system.
Results: Geometry changed dramatically, Braking also changed dramatically, headlights are very powerfull, SM fender lets the bike travel at top speed with no interference.
Modification difficulty: Hard (Needs good mechanic), fender and headlights: easy

Minor Upgrades
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Renthal handle bar, Renthal rear Spoke, DID O-ring chain, Technosel Seat Cover.
Modification difficulty: easy

Feature upgrades:
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Engine modifications which will probably include some of the following

Keihin FCR Carburator
CRD CAMs
K&N filter : Done
Jetting kit : Done
Results: Estimated Wheel HP ~ 50HP

And last but not least a good paint job. Take a look at the file posted
KLR600-Final#1.jpg

Estimated final cost will be lower than a brand new production TTR600
Any comments or ideas are welcomed

filrou@hotmail.com
KLR 600 SE
Greece