After my 6th gen had been stolen, stripped, crashed, and recovered, I've decided to try and turn it into a rat bike. None of the lights work when the bike is turned on, and the display/tachometer doesn't work as well. The bike still starts fine, but what wires up front can I eliminate and run without and still be fine. I plan on adding some cheap aux lights but beyond that I don't know how much I'm willing to spend on it.
There are two really good examples of a VFR street fighters over at VFRDiscussion. Although both were 4 Gens I believe, these bikes still have quite a bit in common. I believe one was done by a member in Canada and the other by Sebspeed in New York. Seeing what they did may give you some ideas of what you might be able to do.
Basically all you need up front are. Kill switch, starter button, dip/mainbeam, horn and on the instruments oil, neutral and a speedo. It also depends on what your legislation allows.