I rode the bike a few times after I bought it and before I took off the tank to start doing the 12K maintenance. The low fuel light did in fact turn on, then it turned off, and back on. I think it is affected by the fuel sloshing around in the tank (on a hard and fast stop the light turned off). When I drained the tank I would say there was still about a gallon and a half of fuel still in it. Does that sound right? The low fuel indicator goes on at 1.5 gallons remaining?
So, yeah, that all sounds right. There is close a US gallon trapped on the right side of the tank. the light begins to glow faintly with about 0.8-1.0 US gallon available to the left side petcock. Going uphill, leaning right, or applying throttle will extinguish the light. I watch my fuel odometer as an indication that the low fuel light will begin to make *suggestions*.