We bought the bike summer 2010 from Stockholm. It was in good enough mechanical condition with some cosmetic issues (several coats of rattle can paint).
The idea is to build your average Japanese-style resto-mod inline four. Updated (but period look) wheels, brakes, forks, swingarm plus some general tuning (smoothbore carbs). Wheels will be Astralites as you can tell, forks come from a CBR900RR and custom yokes will be made for it.
I tore the bike down mid December to start planning and see what has to be done to get everything the way we want it to be. Here's what the bike looked like with everything stripped off besides the bodywork and seat.

The first thing to do was to check how much clearance there was for the swingarm. Turns out it fit straight in with some gentle persuasion but it still needs a millimetre or two shaved off from the pivot to get it 100%.

The shocks are a pair of older Marzocchi's. These have been swapped to a pair of Kawasaki ZRX1200 shocks since we wont have to bother changing the swingarm then.
Anyway. A few weeks passed and now after new years I figured I'd get cracking on it. I chopped off the footrests and a few other bits and then moved onto making some braces for the frame. After a few hours work I had made all the braces for the rear section of the frame.

Remove paint and tack into place...

And then weld.


Added a cross-brace in the frame after I had finished all the other welding.

And that pretty much concludes what I've done up until now on the bike.
We're aiming to finish up the rear end as soon as possible. Need to make a drilling fixture for the new rear shock mounts (they will be moved forward a bit) plus some other details. Gonna finish bracing the front of the frame tonight I think.
If anyone is looking for Mk.II parts, I will be selling off most of the unused parts from the bike. This includes carburettors, front forks, yokes, brake calipers, swingarm, rear caliper, footrests, etc. I'll try and get everything sorted out next week or something and open up a for sale thread with the parts.