Blue:
I've got a 2005 1200S with 4000 miles on it. I bought it three weeks ago with 3000 miles and running with dino oil. Fuel economy on the road was abysmal, maybe 38 mpg. After an additional 1000 miles (some of which were, ah, hard miles) and a switch to 10w40 Castrol Syntec (a full synthetic) I'm getting 190 miles per tank before a refill - I have YET to hit the reserve. Mind you, this is at cruising speeds on secondary highways in the Piedmont region of North Carolina - moderate curves, minimal stops, undulating hills. I weigh 200 lbs. The chain is properly lubed and the tires are inflated to spec. I also added a throttle rocker which helps me keep a steady hand during long rides.
Of course, if I was worried about fuel economy, I'd buy a moped!