G'day Bear, conratulations on your purchase! The T3's are generally bulletproof if looked after and will give years of enjoyment.
Let us know where you are mate, I'm in Brisvegas.
Bars - You might be able to mount your bars above the triple clamp, I have a pair of Tommaselli clip-ons mounted there and they are fully adjustable every which way and have risers which I choose not to use at the moment. Even the stock bars mounted in this fashion will give some relief but still with a sporting attitude.
Sprag - no they don't all fail, the later models were revised because of the problems that were experienced. What helps big time is a good fully charged bettery. Do yourself a favour and if you haven't already got one get a battery minder of some sort. I use a "Battery Fighter" which is pretty good. What stuffs the sprag is if you attempt to start her up with a low battery, she won't get over TDC and it will kick backwards; the sprag doesn't like turning backwards whilst engaged. Also look at your battery, if in any doubt spring for a new one. Battery World stock batteries for our bikes. Do all that and you won't have a problem.
Coils - they do seem to fail eventually but will last a good long time once replaced. I am on original (I think) Gill coils at 76,000klms no dramas. The northern hemispere guys seem to have more trouble with corrosion around the coil spade connectors than we do down under but it pays to check them if you have the tank off.
Suspension - As you said, freshen up the front end, if you are in Sydney, Sean at SOS Suspension in Penrith is a whiz. There are plenty of options on the rear shock depending on your budget, Hagon do a rear shock that does the job well but if you can afford Ohlins....
Jetting - What exhausts are you running? If running stock pipes with stock jetting and air filter it should pull pretty strong across the range. A lot of the guys on the board here are junking the Mikunis in favour of Keihins which were fitted from '98 on. Better mpg, easier tuning and better performance. The Mikunis tend to wear out the slides. The air filter is a cow to service as the carbs have to come off to get at the thing! We are now mucking around with pods on Keihins with good results, that is my next project.
There are a few other niggling problems but all can be fixed easily and without much expense, especially if you are handy with the tools. Digest this lot first and then we will move on.
Do yourself a big favour and check out
www.mottleybiker.com there is a wealth of information on his site with awesome step by step instructions on all the maintenance that you will need to do on your scoot sooner or later.
Cheers,
Roden