I bought it home today!
This thing is absolutely beautiful! It was its owner's pride and joy, but he didn't have time to ride it enough (he has an R1150R too, which he doesn't ride enough either), so he decided to sell. The owner was torn about selling, but after meeting me and talking to me for a while was happy it was "going to a good home". It was definitely his baby. The left side case and countersprocket cover are BRAND NEW. As are the mirrors, and the seat and seat grab handle. The inside of the tank is 100% free of any rust and clean as a whistle. The original paint on it is about an 8.5. The only reason it isn't a 10 is a few minor scratches and one small chip repair. The tank decals are excellent as well.
Cosmetic needs to make perfect: clean up, and maybe paint the right side engine cases (not bad, but look bad due to the new ones on the other side), same goes for the valve covers. Wet sand and maybe polish the rear brake drum, and fork lowers.
Other needs:
Battery is dead.
Small hole in exhaust collector as was shown in the pics.
Brake caliper is hanging. We pushed up his uphill driveway and loaded it just fine, but when I applied the brake bringing it down off my trailer, it never released. It was a real #$%* pushing it into the garage with the brake hanging like that. I tried releasing pressure with the bleed screw in case the problem was a collapsed brake line but that didn't help. I'll be having to rebuild or replace the caliper.
As for the engine, it starts and runs nicely, so I'm sure just an oil change, valve clearance check/adjust, and timing check/adjust, and it'll be all set.