you should be able to get clip on handle bar (crotch rocket style that clamp on the forks) they are lighter and lower then normal dirt bike handle bars.
If you cover the wheels I would just cover the rear as covering the front is going to make it handle like it has a sail on the front, a cross wind might get you killed, and as it is the spoked wheels are like egg beaters of course they are going to be better then wide flat blades hitting the air dead on.
I assume it has alloy rims, if not look in to those, they are pricey.
I changed my front sprocket on my Honda cb125 to a tooth larger and it made a world of difference and was around $15 and took minutes to change so if you can i would say order up a handful of sizes to try.
narrower tires are going to be lighter but I tend to go with good tubes over thin tubes as you only have two tires.
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