Today, I just purchased a 2000 VFR with 6100 miles from the original owner. The bike is totally stock except for a "Full" Two Brothers Exhaust and a K&N air filter. The Fi light is on since it has the O2 sensors removed. My test ride only consisted of driving up the street and back since it wasn't registered or insured, so I could not tell itoo much from the ride... I purchased it anyway... because it looks like it came off the showroom floor... Should I be concerned about the Fi light? Is a power commander required?
My fifth gen has the same set-up as yours, but never had the FI light problem you explain. It wouldn't hurt to have it checked out. BTW, that exhaust is probably worth as much as the bike (jk) and VERY desirable right now.