Hey Zak,
I've replaced the Fugly original Master Cylinder (and the equally butt ugly right hand switch block - but that's another story) on my 400f with one from a Honda CBR250RR. It was all black, but I've stripped the paint and polished it up. It has the brake light switch underneath - as with most modern Master Cylinders, so I've been able to eliminate that weird switch block in the middle of the brake line, and run a braided line all the way to the caliper from the MC. I tried to retain the hard line because I like the way the line would sweep back, but it was 'too hard' for most custom line builders so I ended up with a little banjo and a little banjo bolt that goes directly into the caliper. (that's another story and another post altogether).
But I digress...I've done a search on Master Cylinder in the tech forum, and there are a number of entries about replacement, someone even suggested a Buell one! You just need one that will pump a single disk caliper and mount on 7/8 bars. Ask the mechanic at your local wreckers, and get one that has had it's banjo bolt packed with grease so that the piston won't have rusted up / you won't need to do a rebuild.
Braking performance is definitely enhanced - there's a lot of 'talk' in this forum about lock up dangers and performance of single pot calipers vs two and four pot calipers - I don't know about any of that, it's just more modern in feel that's all.
Good luck with it all.
Hey how nice is Andy's front mudguards on that 400f? where did he get them?
Lux