I have an 04 Busa and I installed Ivan's smart TRE, smart because it doesn't upset the idle. Although I never verified that the bike can go >186 mph, the TRE did eliminate the 'softer' power curve in the lower gears. It went like a rocket as soon as throttle was applied. It took some getting used to, especially making turns from traffic lights and stop signs. I say 'went' because I just had the Brock street megaphone system with PCIIIR installed. I've ridden it once and I've noticed that the bike is tamer from a dead stop than it used to be, even though the TRE is still installed.
I've also ordered 220 mph Illumiglo gauges to replace the stock 185 MPH ones. I also bought a Yellow Box speedometer recalibrator which is necessary to adjust the needle for the 220 MPH speedo. There is also a competitive product called the SpeedoHealer that gets good reviews here.