Missing reed valves: A long time ago, when I installed a DynoJet kit, the vacuum valve and hoses did not need to be removed. When I recently installed a Factory Pro kit, instructions advised to remove it, install a blocking plate, or run both lines from the reed valve covers into an inline coupler (in effect, cancelling it out. I can't say precisely how it is supposed to work, or what function, but you can do away with the whole system, as many people did years ago. The cleanest option is the block off plates, but I haven't seen any for sale recently, and it's low on the priority list to fabricate some.
I wanted to say "fuel pump relay" but wasn't sure, even though I replaced it and the pump six months ago. I have read you can stay on the road if your pump dies by doing a roadside gravity feed, but i would hazard a guess and say that is a limp home mode, and the pump is there to keep the fuel bowls filled at higher RPM. No actual experience however, YMMV.
My pleasure sir. I would have taken a picture under the tank for you (ref vacuum valve, hoses and reed valves,) but I have a full tank, and it's kinda' standing by while I paint the fairings.