Another rainstorm for this parade. The 350 is not a good candidate for hop-ups.
A 340 Four is smooth running and pleasant to ride around on. The 350 twin has quite a bit more power and is lighter...
The bike is probably worth more stock than after "improvements". Whatever you spend on performance mods will most likely only lower the value, this is a rule for pretty much any Japanese bike.
For personal joy (ignoring resale value) it's a fairly easy engine to work on and you can get a bit more oomph out of it. Not much though!
You can put a 400F engine cylinder/head on the 350 main cases, I think the sleeve holes have to be hogged out a bit. Even hop that 400 up to 466 if your budget is elastic. Then there's porting, bored out or bigger carbs, free-er flowing exhausts... Kaching!!
A smaller front and/or bigger rear sprocket will give more acceleration but with higher rpm at speed. The engine makes power (what it does make) at high rpm, but it can't come close to redline in top gear with factory gearing. With only 5 gears you can't really spare one for "cruising" if you want a hotrod feel. Extreme final drive ratio changes make the stock gear ratios difficult, they are picked to give good shifts as-built.