If your rotor is knackered then change both pads and rotor at the same time - you are wasting money otherwise.
What thickness is the rotor? And is it cracked (between holes) - normally accompanied by some high pitch squeeling. If it has some meat on it and is not cracked, then you have some slack.
I would pull the pads and see what you got left first - it will take time to bed in some new ones - which you will have to throw away when you get a new rotor, if the original is that bad.
Significant improvements to a single disk set-up can be made before going to the cost of a dual disk setup - and none of which will be wasted, if you are careful.
Ask yourself some questions. Am I loaded down with pillion, heavy fairing and luggage all the time? Am I a riding god who would be better off on the race track? If not, then you might not need dual disks at all, just a refresh of the existing system - which does sound like it could do with some attention.
Dual disks will mean you have two of everything to change - and will increase you unsprung weight at the front. You will need a new master cylinder, a new brake line, a new caliper and another rotor, plus bolts, etc. A significant investment on top of your existing costs.
I actually went the other way - I went from a dual disk to a single disk set-up. What I lost in outright power, I gained in loss of weight, progression and feel. I am happy with the single disk setup. In the UK most R65's are sold with a dual disk set-up.
There are several common choices with disks:
1. Original equipement - not the best, but not unreasonable - often replaced with better aftermarket options when they wear out. But not worth doing until that time.
2. PFM Cast Iron disks (I have a set of these on my R100) work well but discolour(rust) when wet. A common replacement for when originals wear out and good wet weather performance.
3. EBC Pro-lites, full floating disks, that are lighter that originals and the cast iron disks. I had some on a K100RS some years ago and were a definate step up from the original equipment. Most expensive option - but if you only have 1 disk to replace....You could push the boat out.
4. Grimeca - popular replacement and look exactly like originals. I however was not pleased with mine when both warped after minimal mileage (circa 10,000 miles). But I am willing to accept that I might have had some of a bad batch, as others have had no issues.
If I were you, I would improve the single disk setup first, and see how you go. If the improvement is not sufficient then go for the dual disk setup, at least you will have a staged approach that will spread the cost.
Cheers
Steve H