I was just reading through thread the other day thinking about how jealous I was because you did go all out and followed your dreams, especially considering your bike is still road legal!! However I didn't remember the user name of those bike it was so I didn't realize it was you who was replying here.
I think it is crazy but not in a bad way, it is your hobby and you like it that is all that should matter. However your hobby lets people interested in lightening our bikes learn a ton that is pretty much impossible to get anywhere else, It is far from a waste, you are doing the community a huge service by doing what you are doing. Especially considering you did so much while keeping all the important factory bits on it. You could have easily taken a bunch of stuff that nobody on the street would ever take off, but you didn't.
I won't ever spend nearly as much as you did making your bike as light as possible I don't think (who knows though :D) but It is going to help me figure out where I can make the most gains and what options are worth trying and what ones I think are just too expensive.
I've got a few idea's already off your thread but I gotta go back and read it again and think much more carefully about it.
I've got a few "cheap" lighter mods done already but they were not really done just for weight such as battery, gas cap, rear sets, exhaust. However, I still have stock rims but that is a pretty pricey mod to get all at once. So I might have to start looking for a few other cheaper mods I can save some weight with.