I guess it depends on what you are looking for, like everyone else said.
Me, I mostly care about crusing around on the weekend. I don't ride exceptionally hard and I do most of my hard riding in a straight line. In my opinion, I am the guy the V-Max was invented for. The acceleration junky. Mine is an '85 and came with a few mods already, like progressive front springs, a re-jet and some visual mods. The bike is plenty fast for me, but too quiet. The first thing I bought was a set of Super-Trapp slipons. I am still waiting for them, but from the clips I have heard and seen they will be a huge improvement in sound.
I see alot of people mention the seat. I bought my V-Max beause my RZ350 was killing me on weekend rides in excess of 30 minutes. I can easily do 3 hours or more on the stock V-Max seat. In my opinion riding this bike is like commanding an 11 second Lay-Z-Boy. Others obviously have different opinions!:biglaugh: I set my rear shocks pretty soft and find the bike very comfortable. It handles fine for me as well. I am not hanging off the side and grinding hard parts, just taking my time through the corners. I have the RZ for that stuff if I am so inclined.
My future planned upgrades include mostly maintenance and detail related issues. I need to get my valves checked and adjusted and I still am trying to track down a slow start issue. Other than that I am just working on cleaning mine up. For the amount of riding I do, the bike is perfect as is.
Watch out though...you can go crazy on the mods with these! It could easily become an obsession. :eusa_dance:
Mike