Current 1000RR is heavier then the 929 (not sure about 954) by 3 pounds.A 954 compared to a 600RR is apples to oranges. Compared to the current line of liter bikes, the 954 is dated...the bike is heavier, down in power, and the suspension and frame are lacking. With enough money and time, a 954 can be made more competitive depending on what level of racing you're considering. Adding a full exhaust system and reworking the suspension are good places to start.
...and I've never raced one.