I did mine 6 months ago on my '97. You get pegs lowered about 20mm, and they look like they belong to the bike. You only need the right/left BMW bare pegs and preferably both springs, other bits swap over. They aren't that expensive.
However, there are things that need to be done with the rear brake lever and master cyl. pushrod adjustment/ brake light stop screw. No more BMW parts needed though.
If you wanted to make the whole thing like the latest K's, the cost of the complete and different shift linkage is probably a bridge too far. I didn't like the look of it either. However, there's something aggressive that can be done with an angle grinder on the first shift linkage at the shifter, if you ain't got the right feet or boots. When BMW say the ergos are adjustable - yes they may be, but not in a way that gets everything right at the same time! PM me.
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