This is the spec:
FULL OHLINS ROAD AND RACE SUSPENSION FRONT AND REAR
OHLINS STEERING DAMPER WITH HARRIS MOUNT
FULLY ADJUSTABLE ARROW REARSETS
FULL TITANIUM AKRAPOVIC EXHAUST FRONT TO REAR
DYNOJET STAGE 3 POWER COMMANDER WITH SOFTWARE AND INSTRUCTIONS
CARBON FRONT FENDER
GENUINE REAR SEAT COWL HADLIGHT LENS COVER
TINTED DOUBLE BUBBLE SCREEN
R G RACING CRASH BUNGS
PADDOCK STAND BOBBINGS
STEALTH SUPERSPROX REAR SPROCKET RENTHAL FRONT
D.I.D X RING GOLD CHAIN
NEW PIRRELLI DIABLO TYRES
ALL HISTORY ETC
25K Miles on the clock and the seller is asking for £3K for it, very cheap considering most 954s go for more than that. The rearsets would indicate a former race bike. Going to look at it over the weekend, anything you'd recommend looing out for? Did a HPI check, nothing reported.
And if it has been raced, should I not touch it?
I wouldn't consider the rearsets to be track specific. I run stock rearsets and pegs on my 929 currently and I would bet many more aftermarket rearsets are bought for bikes that never see the track.
Full ohlins forks to me means they're complete forks rather than just kitted stock forks so they might be a nice touch.
The "stage three Power Commander" is a worry :-)
Since it doesn't say it's custom mapped I'd say it's less likely to be a race bike. Most people wanting to race would spend the money for a custom map to get the most out of what they've spent already.
Check the various fluid plugs for lock wiring (although I wire all my bikes whether I race them or not) and check if the radiator is running coolant or water. Coolant is not allowed in race bikes.
Being a race bike wouldn't put me off it. As already said, most racers look after their bikes much better than the average road rider.
Examine it closely, ride it and buy it or not because of what it _is_ rather than what the odometer says or its claimed history.
Things like footpegs, shift linkages, hand grips and control pivots wear over time so they should give you some idea of how it's been treated generally.
Make sure the oil is clean but if it's brand new ask why. Most sellers aren't going to spend to put fresh oil in the engine when they're selling it so it _may_ be an attempt to cover something up.
The HISS can be very expensive to fix/replace so be sure it's fixed beforehand.