It does sound like an import, which shouldn't be a big deal on a ten year old bike.
A skinny kid tucked right down on the tank might get over 120 out of a faired model, but for most of us 119mph sounds pretty normal. The restricted model loses about half the power, so I doubt it would get over 100mph.
The final answer is to check the ECU part number. Restricted and unrestricted are different, but I've not had an SV for so many years that I wouldn't know where to start.
The old part numbers are in this thread:
http://forums.sv650.org/showthread.php?t=200593
Not sure if they apply to the later models.