I have a 2003 naked Bandit 1200 and have raised the handlebars and brought them back a bit by using Gen-Mar <
www.gen-mar.com> set backs. They cost about $135 and come with a longer brake line that MUST be used with the set backs.
I further installed a longer bolt and a 1 inch spacer between the top triple tree and the nandlebar mounts. This required rerouting the throttle and brake cables to a position behing the front forks -- not too difficult, but a bit time consuming.
I like the more upright seating position and have a Slipstreamer Enterprise hendlerbar mount fairing to break the wing and cover my knees and shins. I use my Bandit mostly in a touring mode so these changes were almost mandatory for me.