The only time an LT beat me was when I didn't even realize I was in a race!
I have 2 Honda R's. Very fast, very reliable. I have kept the internals on the engine close to stock and added stuff on the outside (pipes, silencers, airbox mods, etc.) Very little maintenance on them. Change the oil twice a year, keep the chain adjusted and lubed, fresh fuel filters, etc. Over 4 years without a rebuild. I have a friend with an 88 that has not had a rebuild in over 8 years! It still runs good.
Parts for an R are available everywhere it seems. The most expensive thing about an R is the initial cost of one. After that, mods are not bad at all.