You do give up a little on the top end, but I have always felt the trade off was worth it. As for the pipe, I've got over 5000 miles on my 500 since the change, and still no discernable dents in the pipe. I do however, run the Moose pipe guard, the same one I have been using for the past 5 years. Instead of the hose clamps, I welded 3 - 5/16 square nuts to the pipe, and used 1/2 inch long 5/16 pan head screws to secure the guard. A lot less rattle than the clamps.
With the flywheel weight and reed spacer, I love the smooth power my bike delivers. The only issue I had was with the top tank mounts. The first tank cracked where the brass nuts are molded into the tank, so on the second tank (which Ty provided for free as a replacement), I elongated the plastic bracket holes so the tank rested squarely on the center tube. My intent was to eliminate all pressure on the brass nuts.
Rick