there's a bunch of easy cheap stuff you can do first.
- install a sprocket that's 2 teeth larger in the rear or a 14 tooth front sprocket to lower the gearing a bit. if you only go up by two teeth in the rear, you won't need a new (longer) chain. it's pretty easy to do either swap yourself, and sprockets are pretty cheap. by sacrificing very little of your top speed, you'll have much better pull off the line.
- as mentioned, get rid of those chee-Z stock mirrors. they SUCK! "3rd eye" mirrors are a great inexpensive alternative. napolean baren mirrors are also great and many folks here will tell you CRG's are the best around (but pricier).
- pull that useless "smog box" out from under the right side cover. it's a total waste of time considering the overflow tube vents directly to the atmosphere anyways and its removal is practically free (all you need is threadlocking compound and a couple of 5/8" vacuum caps).
- HACK THE TAIL!!! you'll see tons of examples of how to do this. after actually chopping the offending protrusion off the end of the frame, you can install an aftermarket plate bracket or bend one up yourself for short money with hardware from your local home depot, lowes, etc...
- then yep... standard stuff includes exhaust (v-twins shouldn't sound like kittens), airbox, tuning the fuel injection (hope your dealer's good).
1) Pipes. Definitely pipes. First thing. Your Ducati wants to make scary noise
2) Sidestand interlock bypass. HUGE help if you prefer to warm up before taking off.
3) Mirrors. I really love my CRGs; also, moving the grips inboard a little to make room for the mirrors seems to fit me better and reduce twitchiness on the expressway.
Personally, I don't see a pressing need to change sprockets - to my ear it's already really short in fifth, but that's really entirely a matter of taste...
Well, if we're talking about the FIRST modification, I feel it should be the sidestand bypass mod. As mentioned by Strati earlier, the kit by Electraeon is fantastic, easy to mount, looks factory, and works perfectly. Great to be able to warm up your bike while you're suiting up.