The XS1100 ("Elephant", as it was known in most countries at the time) had a great engine (95 BHP and 140 MPH out of the box) but was a terrible handler, with spindly 35mm fork legs, a "hinged" frame, and crap rear shocks, supporting over 600 pounds with a full tank of gas. Still better around corners than a Goldwing, but only just.
Now you can "Cafe" anything, indeed, I've even seen a Cafe'd Goldwing, but it's one of those "form over function" things, it looks nice, but makes no sense. The XS1100 is a brilliant fast touring bike with an almost unburstable engine, and maintenance-free shaft drive, so why not buy it for what it is, and enjoy? If you want a "racier" version of that bike, buy an early 1980's FJ1100, or the very popular FJ1200.
That engine, by the way, is still around almost 30 years later, in the XJR1300. Kind of makes our SOHC4 model run look kinda short, eh?