I have definitely researched this with a many of v max owners...this is what i have learned.
Any blue pot calipers (non-radial) from R6's and R1's (years vary 2000-2003 usually) will direct bolt on to a 1993-2007 MAX.
Morley makes an adapter for hyabusa calipers for pre-93' MAX's and he knows what master cyliders to use.
The six pot calipers will be the best route, with a good master cylinder too. But for the 93-07 MAX this is a project few have taken on but some have done it.
I wish I would of waited and did the above myself or got the adapters/supplies from someone etc...but I have no patience and I am not comfortable with making my own adapters.
I purchased a set of calipers, lines, master cylinder and reservoir off a 2002 R1 from EBAY. The R1 lines are too short. The calipers direct bolt on, the master cylinder fits the handle bar. I just need to make an L bracket for the reservoir cup and get braided lines for a VMAX (not an R1 they will be too short)...yes the banjo bolts will fit the master cylinder end and the caliper end...I heard routing is a pain. One end of the braided lines have curved banjo bolts and the other straight...I was told that the curve ends should go to the caliper and the straight to the master (by a guy with a 2005, R1 calipers, russel braided 2 line kit, stock master, HH pads)...
I will post pics and a detailed report on how everything goes in about a week or so.
Some guys say that the brake lever is very stiff with R1 calipers (6 pots also) and stock master...some say it is fine. I will use what was made to go together.
Some say the stock setup with braided lines and HH pads only is just fine. I don't want just fine I want completely hands down way better brakes.
I believe the 6 pot w/ master is the best setup but I also believe that the R1 upgrade is the happy median as far as time, money and results.
I actually have no idea what actually will happen until I make the change so stay tuned for another great opinion from me LOL.
Once again my setup will be:
2002 R1 calipers and master cylinder and reservoir with homemade L bracket
Probably russel braided 2 line kit from dennis kirk for a 2007 v max
HH pads for 2002 R1 calipers
bead blasted stock rotors
and ummmmmm oh yea brake fluid would help