It happens every few years in the industry, one manufacturer makes a quantum leap and the others try to catch up. That bike was the K1 GSXR1000 in 2001- it blew away all the competition by a wide margin. The next one would've been the all-new ZX10R in 2004, although the K3 GSXR1000 was also quite retarded and my personal favourite of the decade. Today it's (still) the BMW S1000RR
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