I was going to try to fab a custom bracket to re-locate the preload knob so I could remove the passenger pegs for that "sport look". Thought I would try this first. ..Some washers and some felt disks seem to do the job. I put the cover back on and I think it looks pretty good.
Nice job. This bracket offer lot of possibility. I have this 5th gen shock (04) on a 1st gen (VF1000F) and located the pre-loader in the engine V (thanks there is no fairing). The tail is too narrow on the old beast to accommodate it.