Ignoring the front brake at 70 mph = death wish. Seriously, learn to ride a motorcycle - it's not a personal preference thing, it's physics pure and simple.
But back on topic - Joe, since you mention the sponginess of the front end... Have a look at Race Tech Cartridge Emulators. The damping rod setup of the stock forks have exactly the wrong behavior - they're soft under low-frequency loads like braking (hence the brake dive), but harsh over high frequency loads (like rough pavement, potholes, etc.) - this is backwards from what we want (less brake dive but more compliance over rough surfaces).
Tuning out the brake dive with thicker oil and/or stiffer springs will result in increased harshness over the bumps, which is uncomfortable at best, and dangerous at worst (if you hit that roughness while on the brakes or turning, it can really upset the bike). The RTCE's are available for the 550, and they have made a night & day difference for me on every bike I've used them on. I haven't put them on a 550, but have put them on a Katana 600, SV650, and recommended them to a friend with a Ninja 500. My experience and his are uniformly positive over those 3 bikes.
Race Tech also makes springs and can suggest the right rate for your bike. Given how much weight you've cut off the bike, though - I wouldn't be surprised if the stockers were fine. Start by sorting out the damping and see if you still feel like it's too soft.