I havent done it on the busa, but I've done it on my other 2 bikes. It's not good for the tranny or clutch, and your bike will get EXTREMELY hot doing it, like 300+ degrees hot, like steaming and hissing hot! Considering you are running your bike at near redline for 2+ minutes with no air passing through the engine, the bike will be glowing red once your done. But besides all the damage you can and will do to your motorcycle, its not really anything great.
Once the tire blows, be ready on the clutch, if you keep burning too long after the tire blows sometimes you can get tread to rip apart the back of your bike. I saw an R1 lose half a taillight after the belt came around and slapped the tail.
Also, once your tire blows, it's pretty hard to get the bike up on a standard trailer. For one, you dont have any traction to throttle it up, and two, because the rear sits 4" lower, the bottom of your exhaust and plastics will drag pretty bad on the trailer when you load it up.
Also, the guys at the motorcycle shop are going to hate you because it's a little harder to get the burned off tire off the bike.
And, LOL if your bike is under warranty, they can easily reject warranty service on your bike because of the burnout debris underneath the bike. I dont care what breaks on your bike, when that Factory Rep sees the burnout debris under the tail, no warranty work for you!
Sure it's fun, but do it on the beater bike, not a bike you care about