Always wanted to race and for that matter even ride a motorcycle and racer5 helped me realize this dream last year. Unfortunately things won't work out the way I wanted and I won't be out on my own bike this year, but I plan to see what Fawaz has in store this year, so long as he isn't totally sold out already!
I learned a lot and had a freaking blast. Even on those dinky 125s you can have some great fun and even have some oh shoot moments. Flying down the hill into turn 5 at mosport is one hell of an experience, even if I was only doing a little over 100 haha (full throttle all the way baby). On a real bike I can imagine just how insane it would be.. let's just say I would be pretty far off the record lap times for a while.
There are a multitude of different routes you can take, different classes and different levels of dedication and expenses. My initial plan before I did anyhing was that I wanted to buy a 600 with all the goodies and go racing and go now and start winning races and be on my way to motogp in a few years.. but then reality set in. In all likelyhood when i do start racing it will be on a budget ride on a budget. There are a lot of differing opinions on just what you need to be competitive or successful even in the novice classes, ranging from your basic track ready bikes to near ten thousand dollar perfect bikes. I had a good discussion with one of the guys at riders choice one day about what he figured I would "need" and really it came down to exactly that, what I need, not what I have to have to be "competitive". Ask yourself this, are you at any point where you can ride your stock bike to its limits, to the point where the bike is what's holding you back, not yourself? Sure upgraded suspension and a tuned engine and other odds and ends goodies are "cool" and everyone else may have them, but you really don't need them until you need them. If you're way off the pace a five thousand dollar suspension upgrade or a tuned engine isn't going to get you any closer..
There really are so many ways to approach the sport. One thing that was intriguing to me was the vintage racing, and the fact that the bikes can be had fairly cheap(by comparison to newer supersports, unless were talking MINT vintage bikes), but I ran into a lot of people who mentioned that since they're vintage they'll require more upkeep and those parts are more expensive should you go down.. so there are a lot of factors to weigh. Plus travel expenses, tools, trailer, room and board, other perks you want etc.
Nothing is stopping you from buying a beaten up track bike for a few grand, trailering it in the back of a van, camping out and racing on pump gas and the scrubs from other racers. You can do it cheaply, but you have to understand that the top guys in your class are on 15k dollar bikes on fresh slicks on race gas with their motorhomes and anything and everything they want. At the end of the day though, its supposed to be for fun, and I think when you can realize this, and that you gotta get to work on Monday, that its not such a big deal and any way you go about it, nothing compares to pushing your limits on the track, even if you're just racing yourself, even if you're on a little cbr125.
Cheers