1 not so useful
2 yes use kixx 20/50 semi synthetic
3 yes use Honda genuine but make sure your brake hub/liner is in perfect roundness and within limits
4 you can for back wheel good if you can afford
5 use led bulbs in indicator and led headlight with their beem slightly lower to avoid troubling onlookers
6 yes use heavy gauge 2 bar safeguard
7 apply extra layer of cushion
For better performance withe alter engine or swap it and save money and engine. Alter engine are the only thing that spices you riding fun. They give the immediate power that is much needed in long run.
Swapping 70 engine is piece of cake anyone can do it at home withing few minutes. Hardly 7 bolts and entire engine out..