The saga continues.....After reading the responses the quickest and easiest thing to check was the idle, so I just turned it a notch pushing the idle upto about 1600 (it was already on 1400). However, now it doesn't settle back to idle every time. Sometimes it's fine, other times it hangs around the 2100 rpm mark
A friend of mine has a tool for measuring the exact RPM in case the dial isn't accurate, so we will give that a try as well.
He also suggested that as the bike runs so hot it maybe running lean. Apparently a bike running lean runs hotter?
This friend of mine is damn good with bikes so I respect what he has to say, he also suggested that it could be a jetting problem. Jetting is something I don't understand so I'm off to see what google has to say about it. There is certainly no evidence that the bike has ever had dyno time and the can isn't standard so I expect jetting could be a possibility (I think someone else here suggested that too).
Finally, the same guy thinks (at a long shot) it could be a fuel starvation problem due to the way the bike cuts out. I didn't really understand the mechanics of what he was saying but the long and short of it, is check the fuel filter isn't clogged up.
Those of you who are more experienced that I (most of you

) think that any of this is possible?
Thanks guys!