Agreed.
I would remove the ignition and check the slider housing.
I know, drilling out those bolt heads...
The wafer key set will be on top,
below that will be the steering lock mechanism,
below that will be the contact slider housing (created term, I don't know official name) It kinda looks like a little white auto tranny torque converter shaped thing.
below that will be the five wire solder points.
I figured out the wiring for the k1100lt. I can't imagine too many major differences. Hopefully they will be similar enough...
There is a red (power), purple, green and a couple of gray wires.
In that housing will be 4 small springs and three contact sliders; one "Y" shaped, one "U" shaped and one shaped like a bent handled magnifying glass. If one of those springs broke or one of those parts failed then potentially there could be something shorting out the power lead in there.
That red wire seems to be supplying power to the others when the ignition should be off. If the ignition is to blame, then there will be continuity from the red wire to the other wires (especially the green and the striped gray wires) while the ignition is in the off position. Normally there will be no continuity from the red wire to any other wire except the purple one which supplies +12 to the dash light which works with the ignition off. You could check continuity at the plug connection (under the tank) without tearing too much apart. If the ignition checks out, then it sounds like you have a compromised power wire (burned, worn insulation) shorting to another somewhere else, but my bet is with 200rsv in that it is at the ignition,
