Haven't updated in a while, I was busy with Finals and starting up work again. So here's the current scoop:
The VF700 is running great! There is just a tiny oil leak (more like a slow slow drip) from the rear valvecover gasket. I only notice it when I let the bike sit all week. If I rode it every day, I wouldn't even know it was there. I probably just need to torque down the valvecover a bit more (I hope).
As most of you probably noticed, I picked up a 1994 VFR 750 Interceptor this week! I just posted the picture, but I'll give a few more details here.
My buddy and I found it on E-Bay, guy said it has been sitting for 9 months, and just needs a carb clean and a battery. We went and checked it out the next day. I took a battery, it cranked and turned over, but it didn't want to stay running (just seems like the carbs are clogged). Also, the clutch had no hydraulic pressure (which isn't too uncommon for these if they have been sitting a long time).
So we get it home, and yesterday we put fluid in the master clutch cylinder (which I will refer to as the mcc for brevity, and it was empty) try to bleed the clutch... still no pressure. Pulled the mcc, drained the hydraulic system, cleaned the mcc really really good (looked the the return hole was clogged with whatever gunk was in there).
While it was apart, we were playing with the mechanisms, and found that one of the plungers that provide pressure kept getting stuck in the cylinder! We are thinking "Great! We have to buy a rebuild kit

". I thought the parts looked like they were in good shape, but we just couldn't get the plunger to work.
So about 10 minutes before it got dark, we looked at the Clymer manual again for the dissassembly pictures of the mcc, and low and behold, the mechanisms were in the wrong order!!! There are 2 parts you have to slide in, and the wrong one was in front!! So the jackass that sold us the bike must have tried to rebuild it and messed it up.
Needless to say, we put it together the right way, and now it works! We just have to throw it back on the bike once we get back from the beach this weekend... but that is another story!!
My roommate started dating my girlfriend's best friend, and they both do marine turtle research. So we are heading down to the beachhouse they work at for the weekend. I'm willing to put the motorcycle on hold until Sunday... haha. We get to ride around on ATV's on the beach, go snorkeling(if the water is nice), and have a good old time. Being that I still have to clean the carbs, I'm in no rush to through the mcc back on the bike... it isn't like I would be able to ride it in it's current condition.
Here are some more pics. You will notice that the bike has been down on one side, but it is just plastic damage:

You can see there is a chunk missing on the right fairing. Besides that damage, the rest of the paint is immaculate! I figure down the road I can pick up some new plastics if I feel like spending $300+ dollars. Truthfully it really doesn't bother me too much... I'm not the one that dropped it, but that will remind me that it is possible to go down.
The bike feels so good to sit on!! I can't wait until it is ready to go.