As inspiration to a friend of mine inquiring about an SR500 currently...I bring you this SR500 done by the folks over at Blitz Motorcycles.

It doesn't take much at all to make these bikes look great. Here's the run-down from Blitz on what it takes to get the above results:

Hancrafted tail frame
Black powder coated painting of the wheels
Simplified electric wiring 
Motorcycle lowered by 1 3/4 inches
Hancrafted tank (www.sportsratster.com)
Thermo wrapping of the exhaust pipe
Cambell exhaust muffler
Bates headlight
Miller taillight

Run the pricing on those parts and you're looking at one hell of a pretty looking, budget build.