It's not that far from ready. I just need to fill and bleed the brakes and sand and paint the bodywork. That second thing is the hold up.
Put your money into track time and suspension/tires...not building the motor. I used to cause havoc in those same classes on a POS EX500. Your personal experience and skill will outweigh any build of the bike at this point.
I didnt start out having fun with my ex500 this year,but I tweaked something every weekend until it improved and is now a seriously fun bike,even if not a 1st place winner,its still gets me close while giggling around the track.