Having owned a Hayabusa, I can say the bike handles better than I could ride it. The power is amazing, the bad thing for me is the riding position, i bought one for a sport tourer, and could never get comfortable on it, I tried a Tobin seat, Gen mar bar risers, heli bars, double bubble windshield, lowered etc. I liked the bike, but couldn't use it for what i wanted. That's when i bought my FZ1 which was everything that I was looking for pretty much.
As for "looks" that wasn't an issue for me, I didn't even think about it. The Busa was designed for good aero.
I DON'T like the "stretched" stuff, IMO if you want a drag bike fine, but why would you ruin the handling of a bike by doing that to it on the street?