Well, if you are indeed as your name implies (Handy) and you enjoy working on things mechanical, it shouldnt be a problem.
I bought an 01 fe650 and did all the needed mods. I really like the bike but it is a handfull on the trails. I am in the process of putting together what I need to build a 01 470 motor into a 400 (92mm bore). I think the bike will be great in the trails. My 650 is good, just a little too powerful ... wears me out.
You could read through the owners documents (Link in my signature) and find out what you might be in for.