the bike smokes because oil seeps down the cylinders when on the sidestand. if it bothers u, put the bike on centerstand. i have lower pegs, and bike scrapes more than before. in my mind, the bike is a tourer anyway, i wouldn't try to make it a twistie bike.
now, about the cold throttle response. partly due to bike being cold, but bike had a sort of recall in 2006 for electronic control units. dealers decided whether u needed upgrade. mine didn't. u may want to go to a dealer and see if they will honor an ecu replacement.
the gas problem is due to reserve not being calibrated, prolly. it should come on with 1 gallon left, but is probably coming on early.
i bought the parabellum +4" touring windshield. it works well for me. gives me nice wind in the down position, and for touring, i simply crank it up and get a nice quiet day on the bike.
after fluids, i'd be sure and change fuel filter and air cleaner. they are accessable in the same procedure. the bike also has a design flaw in the fuel lines under the tank. the plastic disconnects crack and can spew gas, potentially causing fire. the qd's are replaced with metal ones from omega. do a search on forums. i paid $60 or so for them at www.beemerboneyard.com
, which by the way is a good source for oil filters and brake pads. speaking of, the front pads should be changed at 50k miles, u will need rear pads every 15k miles. the boneyard has rears for $27.95 or u can go to your dealer and pay $125 for oem pads. u don't need to drop calipers or take wheels off to install pads. just search forums for instructions or pm me and i'll help. i'll also help with fuel filter replacement if u need help.