my 04 650 hasnt run worth a crap since i got it 2 years ago i have been reseting that indicator every hour i ride even with a new belt and now it just wont reset i cant even get the light to blink faster i even tried ripping that belt switch out and still stuck in limp mode anybody else with this problem?

 

i have dont have the same problem but the dynatek cdi will remove the factory limiters including limp mode. it also improves the timing curve and you should feel the gains immediately. its plug and play. they sell them on eabay $174.00 shipped. it may be a little costly but considering all the heartache your having....

 

It's been a couple of years since I checked the forum. Noted your question. I also have a 650 V2 - '06. It still runs great after 3,500 miles. Here's what I did as soon as I got it and you can consider any or all to improve your feelings about your own 650.

- Dynatek. Removes the back-up cut out w/out pressing the override. Eliminates the 6 degree spark retard off stop for a little better off the line performance. Eliminates the limp home mode. If the Dynatek does not solve your problem you may have an issue with the belt limp module itself (that's just a guess tho).
- EPI springs in clutch. I chose the Red/Black combo. You can talk all you want about exactly what this does, but the bottom line is raises the engagement point. The Red/blk raises the RPM to ~1,700. Other EPI combos will raise even more. Saves wear and tear on the belt particularly if you don't use low range. My OEM belt is working fine.
- DynoJet carb kit. My machine lives at 7,500' and above. If you are a carb wiz you may not like this, but it's a good starting point for further "tweaking." Fuel econ will improve (in my case A LOT - 125 miles per tank min). Don't forget to adj your needle jets: Warm up. Turn idle way down. Front cyl or rear, it doesn't matter where you start, screw in the needle valve until the engine RPM noticeably decreases then back out until it JUST runs smooth, repeat with other cyl and return idle to normal. Starting point s/be 1 1/2 turns out - for both.
- Anti-Sway bar. Biggest single improvement to handling you can do for the money. After install increase REAR preload all the way, decrease FRONT preload all the way. Actually possible to kick out the rear after install. Surprise. Reduction in articulation is not enough for me to worry about.

I use my 650 as a utility machine. IOW I work it. Towing logs and a heavy trailer. Winching, etc. Also rock crawl on mtn quad trails that abound here in WY. It's never missed a beat. The only down side of this machine is it's very difficult to start from cold. Once started it's fine the rest of the day. I have to remind myself it's a utility machine not comfort cruiser like my CAN-AM 800 Max and proof is I'm going to take it instead of the CAN-AM on a three, 100 mile/day Piaute Trails ride at end of this month. I've had both machines for three years and as time goes by find myself riding the AC more than the CAN-AM.

Good luck in solving your problem.