As others have said or implied, with an early bike, best is to get it to 'par' with ALL improvements included by MMC on later bikes. Each was done for good reason. Ditto the need to replace all three tires. The original Avon's are extraordinarily prone to understeer; their combo of old age and design could make your next corner entertaining. Go straight to the Excelsior's or Blockley's for an instant upgrade.
Once at par with new tires, the following would be my prioritized list:
1. Baffleectomy and stealth-type intake for cooler, smoother running
2. Improved daytime illumination, at least up front with LED driving lights (and LED headlamps)
3. Dynamat insulation
4. indoor and outdoor car covers
5. Steering wheel of your choice
6. A factory luggage rack
If you then want to take it up a notch:
1. MorganCustoms (Emil) oil cooler
2. Ohlins
3. Sky's the limit!
