Beeb,
I stumbled upon and quickly purchased a 92 FZR400RRSP and am looking for some feedback from those that know these bikes, I do not. Always wanted one but don't have any experience with them.

My experience is in the OW01 /YZF750SP realm so I know Yamaha kit/YEC/SUGO.

It is a zero mile bike, apparently the full SUGO race kit was bought and installed and then never raced. Was stored in Japan then shipped to the US in 09 where it remained in a collection.

Currently living in Norway so haven't seen the bike but a good friend inspected the bike and confirmed it is real.

If anyone with experience with these has observations or recommendations I'm all ears...Just trying to figure out exactly what I got. After 24 years of inactivity will need some love to get back on the track.

It's hard to comment on it but it looks right. You should have flatslides in the airbox.
If it's a prepared road bike then it's one of 500 but if it's a race bike then it could something outside of that run. You could ask yamaha to trace the frame number and have a look over the engine if it's been named and numbered by the tuner ... Usually on the barrels

Someone spent all that money on race kit....but never thought to put NRC race casings on it ....lol.

They might not have been available when it was built

Possibly , though with modified or h/d spill proof casings being mandatory when racing in the US they must have been available within the first couple of years of the Fzr's 1986 inception.

Nice looking original bike, I've got an SP too and it has a few familiar looking parts on it. the tacho looks like it red lines at 13000rpm though, that's 2500rpm short of the race bike red line!
The air box looks very similar to one I've got stashed in the garage.
I have a Boss stainless race exhaust on mine all spring mounted, yours looks like a different system to a standard one as the exup valve looks much closer to the down pipes.

I bought 0ne last year and restoring it slowly. Great bikes I am told , probably no better on the road as my 3TJ , but getting very rare now. Enjoy it mate.