The yamaha EXUP valves later were useless and a more performance bottleneck and more a EPA gimmick to reduce noise. I would doubt other such valves are any different.
Don't think it looks that good with the FZ1 compared to the FZ6 since FZ6 has more cat like slim headlights like the R1. FZ1 has more squarish so don't think it will look that great - will disturb the look
+1 In this economy playing safe is best bet and I think the FZ1/R1 engine if sleeved down will have good torque but it remains to see how much they modified it when they bored it in.