if you use synthetic oil make sure that you use a wet clutch compatible engine oil or you will have to replace your entire clutch, amsoil makes a motorcycle oil that I use and like.
I haven't been able to find anything wrong with foam air filters, they are high flow, you can wash them and they catch more dirt they any other filter I've used.
touring tires, they tend to be good wet/dry weather tires, they wear for a long time and if you can find some that are made out of silica rubber then they should be lower rolling resistance without sacrificing traction.
An o-ring chain is going to last forever but it's also going to weigh the most, a good non o-ring chain with chain wax or bo-shield on it should last a number of years.
as for a faring, the rear of you is the least aerodynamic part, so building up your seat behind you will help, wearing a small back pack, having a fearing that helps to keep the air flow attached behind your legs, removing the rear fender/license plate holder, dropping your handle bars a few inches so your whole body is dropped.
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