Just to put some closure on this topic:
I finished the work today. Including: re-painted and lubed the throw arm, center stand, side stand, new cable, adjusted all, etc. I also decided to put the side stand retraction system back together.
You guys were right, when it's all lubed up and adjusted right it works (as we used to say back on the farm) "slick as snot". So, I'm glad I left it as BMW designed it and thanks again for your help.