As somebody who has had a carb hawk under him for 4 years now, and about 7000 miles, here is my opinion.
The Hawk doesn't NEED many of the upgrades to be a decent bike. In fact, to make the Hawk a good reliable bike the most work you will do will go into the proper assembly/setup of the bike. The more time you take to do things right here, the better the bike will be long term. Then, doing certain things as a regular maintenance item, such as spoke tightening, will keep it on the road (and from making taco wheels).
In my own opinion, the only real necessary upgrades would be at least a better chain than the factory item, although even here people have gotten a couple thousand miles from them.
Jetting the stock carb if you want to deal with unsealing it, or buying a VM26 or PZ30 clone and jetting those so the bike will idle and ride properly is another area. A PZ30B (stock carb with an accelerator pump) is a nice upgrade and there are kits that come with a quick turn throttle and cable in one whole shebang if you so desire.
I am not sure if they have improved the quality of the stock tubes or not, but putting in some heavier duty tubes isn't a bad idea, and others have installed bead/Rim locks.
My own personal opinion on a mod that is worth while is to at minimum de-cat the stock exhaust. The catalysts on these bikes are rather shit and really hold back the motor in terms of power, as well as put a hot cat right next to the engine and carburetor.
Beyond that, you would likely want to either install a 17 tooth front sprocket, or a 45-47 rear sprocket just to be able to get the bike to do that 50-55mph cruise without having the revs screaming along at redline. Top speed with stock sprockets is 59 at max revs.
I am sure I have overlooked things, and that others will likely chime in, but this is my quick 2 cents as I get ready to go to work lol.
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