Like the others have said it seems like it was a cheap fix to a dump. To boot I kinda looks ugly naked, if you like the naked look maybe consider the hyosung?
Also, have you considered a new 2011? Dealers are moving them out the door like they're stolen. Probably get it for 4000-4500$. Most places are offering decent finance rates. These bike also don't depreciate in value very much so that's a plus.
Just my 2 cents, I went the new route... No issues with mickey mouse fixes, and lets be honest most ninjas have had a new owner every season, who knows what kind of care they put into it.
Peace of mind and safety on the road are worth the extra cost Imo, ymmv.