Theo, I have a blue '88 myself, and the only real modification (in terms of performance) is a different set of jets in the Weber than the stock configuration. I've heard it referred to as the 'Canadian Spec' jetting, but there really wasn't any such animal that I know of; suffice to say the 4500rpm hesitation has been replaced by a tendancy to try & flood out at small throttle openings in hot weather. However, it just loves WOT ... 
Otherwise, I've seen an indicated ~130mph on mine, which I'd guess to be around 120mph true speed (Ducati speedos are notoriously positive in their readings). We enjoyed it very much, thank you. In general though, when away from the cities and into the open roads, our comfortable cruising altitude is around 80mph, where we still have the ability to drop to a tuck and whack it up to triple digits, or just casually tool along. We have seen the dark side of the tachometer, you bet.  It's more fun than humans should be allowed to have, straight up to 9k.
I'm not one for wheelies or stunts, but I certainly enjoy driving fast, and driving fast well - that's the real challenge, to me. That's where my thrill comes from. Smoothness, consistency, confidence ... all while on the power.
There's a big difference in pushing the Paso compared to my Monster along my favorite bit insanity (route 13, Chittenango to Cazenovia, NY) though. The Monster's (a '97 m750) brakes are more responsive, and they have less tendancy to try & stand the bike up when you get on them in a corner; the carb is better sorted, too. But the Monster's seat isn't as comfortable, and the position is quite different.
On the Paso, I like the stability of the 16" tires, and I enjoy muscling it through turns and chicances. There's one chicane in particular that goes up & over a small rise, with a switch in camber along with the curve itself - and even though the two bikes are maybe 30lbs apart, factor in the riding position and my confidence is higher on the Paso than on the Monster when it comes to flinging through that section. Something about being attached to the bike versus being part of the bike.
At that: the required change in positioning when it comes to barreling through turns on either bike: sometimes the Monster feels like riding a charging bull - maybe it's the handlebar unit, which has just been replaced with clip-ons, and is yet to be tested - but on the Paso, I feel like we're charging as one through the turns. More unified, I guess.
And although the Monster rides sweeter, due to the carb/airbox/exhaust arrangement, it doesn't make me discount the Paso at all. If anything, it makes me want to straighten it out - because I know what it is capable of achieving. And that's what I intend to do - with a little from my friends here on the board. :thumbup: I plan to put jonslocum's wiring upgrade to work as well as put jfiore's Weber enhancements to the test, probably over the coming winter (don't want to miss any riding days!).
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