I'm just a few days ahead of you!
I just got my '94 MC28 delivered Monday here in Japan but have been reading up on this exact issue intensly for a few weeks.
So far, I think the general consensus is what you've mentioned...not sure if there is a particular order though:
- Exhaust
- HRC (or similar) Carb Kit (Me thinks the adjustable needles and X-Y pieces are important)
- Wire splice
- Air box mod
- HRC 030 card (or Moriwaki-man can rewrite your standard)
All this and then the joy of tuning!
I'm only in the early stages of tearing down the bike to see if there are any needed immediate fixes but so far I have a leaking oil pump filling my tranny oil. I've got a Jha exhaust on the bike and the PO installed at least the X-Y pieces...so maybe there's some carb work done as well.
Dana