Nick,
I'm just about to put my 04 1200GS up for sale at £6995 and wondered if it might be a better deal that the one you are looking at.
It's 22k miles, full BMW service history, spokes, ABS, heated grips and hand guards.
Also, it's got another year of BMW warranty which will expire in May 2007 - peace of mind for you!
It was yellow, but there are too many yellow ones around so it's now a rather superb dark metallic grey and gets loads of compliments from everyone who sees it. I've also put Renthal bars on which vastly improve the riding position, and of course it comes with Tobinators.
If interested, email me at tobers[at]stopthebuffeting[dot]com
Cheers
Andy
Here's some pics with the rear seat & rack removed (but will be put back on before sale!).