Got to agree totally with MJ, Mat, but I'm sure you'll get there pretty quickly though

. This is just a bit of advice from what I learned during my first seasons.
When I started racing I had a mildly tuned engine but decent suspension and then I developed the bike as I raced and improved things as and when I could. In some kinda order I think the most important things are:
Decent rear shock and front forks
Resprung suspension (to match your weight), properly setup and with the ride height sorted
Decent wheels and tyres; try to match tyre sizes as well so if you go to a 120 17" front (if you use different forks) then you really need to have a 160 17" rear to match, which will need an RGV rear wheel as a minimum or better still a 4.5" rear rim (think Dymag and kiss goodbye to £600+

(I did)).
Also play with the riding position with rearsets etc as the standard position is very sit up and beg and it takes a bit of work to get a more modern head down - arse up riding position
Once you've got that far, then think about getting the most from the engine, with say 35mm carbs and a CR gearbox. I think the CR box makes the bike a lot easier to keep in the power and is more rewarding than the 35mm carbs but both will cost a few quid to install and they are both worth doing as and when you can afford to pay for them

. You will though get more bang for your buck (or seconds off you lap times) with decent suspension then you ever get with just a faster motor.
Spend your time fettleing what you've got and improve it over time and be prepared to go down the odd blind alley and never be too proud to amite to a mistake and start again from scratch

I didn't do all this my-self in the order stated but I did what I could, as I could and as funds were availble to do it and from experience the cheaper mods were the ones that got done the quickest and often had a sursprisingly quick (pun intended) return

Like my home made rearsets so I could get a proper riding position or my straight in air ram system (copied from Colin, who you got your 35mm carbs from).
Anyway mate best of luck and if you need anything just give me a shout and I'll try and help. If you can get to a trackday with me sometime then you can take my bike out and see what you think to her.
Mind you that'll have to be after I've got the cylinders re-plated
