Thanks for your suggestions guys. I will list here what i did to the bike within the last month
Replaced rear main seal
Replaced Oil pump seal
Lubed spines
Replaced older style cam chain tensioner to the new style
New Piston rings, Head gaskets, Push rod rubbers, cylinder base gaskets etc.
New spark plugs and wires.
I reset the timing, balanced the carbs, the bike runs fine...although can't ride it at the moment coz of the weather here.
Monte, I had the handlebars replaced from my suzuki with built in weights and yes i have bar end mirrors. Suzuki handlebars are more wider and height wise in between European and American styles.
For some odd reason I still think my whole clutch carrier and related components might be out of balance since I could not see any factory paint marks on those parts, the people talk about. The vibration I am talking about was there before I did the repairs and still about the same, It is not that bad but not as smooth as some bmw owners talk about. May be I am skinning the hair here.
After reading that thread at BMWOA I started suspecting the clutch carrier. Some were even talking about weighing connecting rods and pistons with pins to make sure they weight the same on both sides....not sure how far we can go on this, but would love to do some more experimenting with the bike to see how smooth I can get it to run....still not as smooth as my suzuki 400e.