Welcome to the blue 550F club! They are great bikes.
Highly suggest you start a tread in the "Project Shop" area so we can follow along and answer questions.
FYI - those handlebars, rack and engine guards were not stock but that exhaust is.
http://forums.sohc4.net/index.php/board,103.0.html
Here is my bike...

Returning to this message. I’m looking to lose the luggage rack and eventually swap the handlebars.
What are my options when sourcing/not sourcing the stock rear bumper/grab bar. I’m seeing some $200 options. My turn signals were mounted using the luggage rack and without it they don’t really have a place to live. Yours are mounted to the bar correct?
Yes, the rear signals mount to the rear grab bar. Try starting a WTB thread in the classified of this forum, someone may have one. FYI - The F model bar is not the same as the K.
Hopefully you have the correct signals.