I did exactly that to a 2001 R1: Heli bars (not risers, just different angle) and adjustable rearsets (don't remember brand) which pivot down and back. Changed the riding position to more vertical and gave more room for the legs. As a bonus, the Heli bars are a little longer than stock, so provide more leverage, bike doesn't want to run wide in corners; they also make wrist/angle position more natural in full turn, with OEM bars find I end up steering with outside bar when deep in turn.
On downside, the Heli bars are more flimsy than OEM (as someone remarked), so removed them this year since they amplify vibration more.
Also have Corbin saddle, which is most comfortable saddle I've owned, including a prior gel saddle; seems to work best with revised position.
The R1 was a great fit to start with, with the bars and pegs it's the most comfortable bike I've ridden (including K75, Electraglide, Softail Springer, original Hurricane 1000, SV650, Suzuki GS1100G with Vetter fairing): rode 3500 miles through 8 states over 10 day Christmas vacation a couple of years ago.
Re. someone else's comment on SV650, it's great around town, but too buzzy and too cramped for 6 footer for more than an hour's highway riding.