If it was me, I'd not get an SV and race it up, I'd get a 400 of some straw and, well, leave it alone
It'll handle better, be just as fast as a restricted SV (maybe faster, some are a bit lighter) and they're reliable too. As long as you're not cramped on it, there's no reason you can't tour on one even.
You could also look at CBR600s... Not the newest ones, they'll cut you on insurance, but if you go back to an F2 or so they're still decent bikes, they actually restrict better than new ones (not as well as an SV, though) and they fit the bill for raceyness better than an SV will.
Don't get me wrong, the SV's a great bike but I'd say it doesn't fit your bill.
On the other hand, if you want to fair one up fully, I say one on SV Rider with an RS250 fairing, and it was completely ace... Good quality plastics and they nearly fitted, which is better than you'll get with a lot of race fibreglass