Assuming you checked all the fairing mounting bolts and have considered other posted mods (rubber grommets, damping material, etc.) I would just tell ya to ride the snot out of it. Bandits make noise, vibrations and the funny thing is all that changes over time - either that or you just get used to it.
My 2005 B12 had similar issues - everyone (other Bandit owners) noticed how nice and smooth things were with my bike. Over the last year or so (and 25,000 miles) I have noticed certain noises and vibes come and go. Until it flat out QUITS don't worry about it.
Proper chain tension is covered in the FAQ.... I will say the "correct" way is to have the bike on level ground - you sitting on it - and check for the aforementioned free play. Checking the tension on the centerstand is easier but the chain will get tighter in "running mode" [off the centerstand] so leave it a little loose. In this case (as opposed to women) too loose is better than too tight.......
Hope this helps - anyone need another beer????
Chime in any time Red