Welcome Chris.
The FZ1 uses the same engine as the R1 2004 model....i think they call it the 5VY or something......but to the best of my knowledge (very limited tbf) the chassis is different....well it must be otherwise it'd be an R1
......silly me....anyways.
It seems like one of those mods whereby it'd be easier to buy the R1 & make it more like the FZ1 than it would be to convert the FZ1 to the R1 if that makes sense.......plus it'll roast your cahones mate
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But yep...id say buy the R1 & get a wide bar conversion kit and youll prob have a better bike.