You're lucky in that this bike has a lot of information online for it and it's own subforum over at thumpertalk. Stock the bike makes mid to hi 30s for HP and is rather restricted. Most owners who do any mods do the basic intake/carb/exhaust mods to unrestrict them. Doing this will push HP to low 40s which is probably where your bike is at assuming nothing but "uncorking" and the aftermarket exhaust. If you add a stage1 cam, hi comp piston, aftermarket carb, intake mods you'll be up to low 50s. Then if you ever have to rebuild the engine while you own it, the cost of a 680 BB kit is almost the same as the stock rebuild and this will get you another 4-5hp.
The carb is one of the better mods to do, switching it out to a flatside pumper. You don't gain much for hp/tq but the throttle response and attitude of the bike changes completely.