We also interviewed several current and previous owners of the bike and as you will see, they all had good memories of the bike. Ben in Shelby North Carolina said "It was the bike to have at the time" and "the lack of a steering damper is about the only real gripe I had about the bike. It was an extremely lively ride and the midrange grunt had the front wheel constantly coming up or skating along barely in contact with the road."
John Gratz of Fairview, Texas, tells us about one of his best memories on the R1. "One time a guy in Fast by Ferracci leathers on a Ducati 916 came up behind me on a twisty road and wanted to play. So I waved him by and then totally disgraced him by riding his back tire and then passing him in a corner. I waited for him at the end of the road to chat but he just kept going."
 Eddie Walton, from Austin,...  Eddie Walton, from Austin, Texas owns this '99 R1 with the popular red/white paint scheme. Modifications are modest, including a slip-on exhaust, racing brake pads and fluid, and a tinted windscreen. We like it because of the color. For some reason, Yamaha stopped offering this scheme to the US market in later generations. |  This clean '00 R1 belongs...  This clean '00 R1 belongs to Michael Brune of Houston, TX, and looks mostly stock at first glance. Look carefully and you'll notice a Yoshimura TRS slip-on exhaust, Competition Werkes fender eliminator, Lockhart Phillips smoked turn signals front and rear, and polished rim lips. Mild mods for an otherwise wild machine. |  The popularity of the R1 earned...  The popularity of the R1 earned it a cult following, and the highly updated '00 model featured more than 150 changes. This 2001 model belongs to Christian Ortega of Miami, Florida and features a high-mount Two Brothers' exhaust, chrome frame, polished wheels, and a spike set. |
Stuart Smith (California Superbike School instructor of seven years) raced a 1998 R1 and said he found the bike "very confidence inspiring, comfortable and forgiving on the track". Even though he only raced it one season in 2001 it was a very reliable bike and the only problem he recalls was getting "hot foot" on long races due to the position of the exhaust in relation to his footpeg.
The mechanics we talked to had a slightly different opinion of the bike due to its compact design. Because the bike is so small and tidy, everything had to be buried behind something else. John France (former race mechanic for the Factory Ducati team in 2006) of Melbourne, Florida said, "If a guy pulls up just wanting the spark plugs changed he is going to be waiting for a while because they are a bitch to get to."
John also recalls rebuilding at least 10 of the transmissions for the aforementioned second gear problem. But even with these issues he is quick to admit that the bike was "generally a good bike with no major flaws" and that they "do hold their valve clearances well."
 |  The sky is the limit when...  The sky is the limit when it comes to R1 modifications, as shown with Greg Lander's of Melbourne, Australia's blue bombshell. A superbike-spec R1 for the street, this machine features a host of racing kit parts in the engine bay and is one of the most highly modified R1s we've seen. |  The swingarm is a Harris WSBK-spec...  The swingarm is a Harris WSBK-spec braced unit with the lifters to accommodate the race-style rear stand. Note also the Brembo Goldline rear caliper and BST carbon fiber wheel. |
 Here you can see the superbike-spec...  Here you can see the superbike-spec Ohlins front fork and radially-mounted four-piston Brembo calipers. They squeeze on Braketech 320mm cryogenically treated ductile iron full floating axis rotors. |  The cockpit features adjustable...  The cockpit features adjustable Promach triple clamps, a Translogic gear indicator, and an on-board lap timer. |  This view gives a good glimpse...  This view gives a good glimpse to the racing kit full-size radiator that's tasked with keeping that monster engine cool. Speaking of which, that engine features a custom designed carbon fiber ram air box which feeds Keihin 41mm flatslide carburetors. That air is fed through a ported and shaved head that houses the kit race cams, valve springs and ECU. We could go on, but we simply don't have room. |
If you are in the market for a used R1, they range in price from $2785 to $3665 for 1998 models and $3285-$4320 for the 1999s. Step up to the revised Y2K model and the price jumps to $3585-$4715 and for the 2001 expect to pay $3700-$4865. (NADA price estimates) Of course prices vary wildly and we saw a few unmolested 1998s with asking prices much higher than the going book value.
The only major thing to avoid with this bike is the transmission issue discussed earlier. So if you are shopping make sure you get a test ride and check for this problem. It usually happens under load in second gear. Also try shifting from first to second gear under hard acceleration. If you feel any clunking or something that feels like the bike is jumping in and out of gear that is a sure sign that problems lie ahead. And of course if it completely jumps into neutral the gearbox is already toast. Repairs are expensive too, so just move along unless you can split the cases yourself.
Every bike has its day and clearly the day of the R1 was from 1998 to 2001. By the end of the Gen-1 era, the supply restriction was over and the bike was very popular. As of this article, the new 2009 R1s are just hitting dealer showrooms and the cycle starts all over again as Yamaha begins writing a new chapter in their history. This new chapter is one led by three-time AMA Superbike champion Ben Spies as he will be riding the '09 factory model in the ultra-competitive World Superbike series.