the clip goes around the bar under the clamp and keeps the cable clear enough of the ignition.
as far as the vibrations go, the motor is reknowned for being a bit buzzy,
a few solutions that have been tried are filling the stock bar with lead shot or silicon or sand. some people have used a "bar snake" which I have never seen but I think is like a bunch of lead sinkers in a plastic sleeve.
I have used HVMP bar ends which are 17 oz each and look pretty cool in stainless, they cost about $80 plus shipping but they are pretty good.
The angle on the FZ1 bars is flatter which for many is good for the wrist angle. I am happy with the stock bars. The other thing for the buziiness is using "grip puppies" or as I did, used foam hot water pipe insulation, the same stuff surfers use on the car roof racks to protect their boards. it works ok but does compress after 3 months.