I got the Fumoto valve today. I ordered the type with a nipple, Part# F111N, thread size 14mm-1.25. The bike is winterized in the bottom of the garage, but I'll see if I can install it one of these days to confirm the thread size is right.
On first glance the thing looks a bit overengineered and it probably is. Its a ball valve design, the same that's frequently used for gas, steam lines and other sensitive applications. I'm pretty sure it will ever leak when closed, i.e. it will probably outlast the bike.
The little handle does not move easily and I don't think there's ever a slightest chance it will get open under any circumstances. However, there are ways to positively fix it in already locked position if you are really paranoid.
Update (Nov. 20):
The thread size 14mm-1.25 is right for my 2002 12S (just in case there are other sizes for Bandits, although I sincerely doubt it). However, the valve wouldn't screw all the way in because the protrusion in the crank case is getting in the way of the valve handle extension. From what I could see in the dark and cold garage there shouldn't be a problem if I shave off that piece of metal. It was obviously put there to protect the oil drain plug but God only knows from what. The exhaust is more exposed and much closer to the ground efectively protecting everything above it, including the plug. This is not a trials bike after all.
To be continued...