I have 40 mm universal type risers on my GS which cost $40- from Jason at Road and Race on Churchill Road a few years back.
I baulked at paying $220- for Pivot Pegs , and fitted a pair of Unlimited Parts S/S wide aerated pegs made for a Yam YZ. They cost around $ 40- again from R & R. They are an inch or so lower than stock and about as low as you would want if you like to change gear, brake or heel it over in the corners with your foot still on the footrest.
I dont stand up so I have no need pivot pegs or higher risers, and his combination is around 20% of the cost of the next step, and it does everything I want.