Hey, I just bought a 650SX too not just a not quite a couple of months ago. I have a pretty good list of mods I plan on doing as well. Most of which are free. I work in a machine shop so all my mods requiring machining will be free hehe :biggrin: But I'm also really low on funding right now so mine have to be free or as close to it as possible too.
Free Mods:
-Oversize the pump nozzle (44mm if I remember correctly)
-Mod the pump nozzle for quick steering (will have to make an adapter plate if I can't see some pics on one already done :biggrin

-Polish the exhaust ports and maybe match them to the head pipe if needed
-May port the intake too to match the manifold if needed
-Polish the piston faces and polish the domes if needed
-Mod the exhaust but a little differently than changing internal hole sizes
-Possibly mod the head for dual cooling if I choose to up the compression
Money Mods:
-Hone the cylinders
-Replace piston rings
-Up the jets to the second largest available
-Carb kit (not a mod but should be done to a new old ski lol)
-If upping compression, mill the heads by .028"
-Inspect the decks and mill .002" off if they need to be squared up
-New intake, base and exhaust gaskets
If I can think of more I'll try and remember to post them.