I just ordered two sets of Buell Lightening pegs. About $25 for the set. One for the 08 busa and one for the 05 FJR. I have not heard of anyone doing the Buell peg mod on the FJR, so might do a write-up if it goes well. A lot of sport bike riders do the mod, so a quick search will turn up quite a bit of info.
The Buell pegs are offset, so they end up lower and rearward by about 1.25" each way. Supposed to be quite a strain relief from the stock peg mount on the busa, and due to the way it is angled, also with shorter pin scrapers, about the same ground clearance as stock.
You have to do some light grinding on the Hayabusa to get them to fit. I measured the peg mount width to see if it would possibly work on the FJR, and it is 20mm span across the mounting tangs, whereas the Hayabusa is 22.5mm, so would have to grind a bit more. I did a test to see if I could extend the turnbuckle and lower the shift lever on the FJR. It looks like I can drop it about an inch+ and still be able to shift. The rear brake lowering should be no problem. Granted you might lose a bit of lean angle clearance, but don't think it would be too significant.
If anyone else would like to beat me to the punch, the HD part number is N0006.1AD for the pair. There is another set that some of the VFR guys are using which are Buell Ulysses pegs. They are about $45 for the set. They are wider across the bar, look a bit cooler and supposedly require less grinding, but protrude out farther, which I don't like. Those are HD: N0502.4AK and N0503.4AK in billet, also in black anno. for $65.
I am going to be working on the busa first, as I am 6'2" 250lb., I gots to have some relief. So if anyone gives them a try, let me know, otherwise I will see how she goes and report out.