I used to - many moons ago... It WAS too big and heavy for a 'street' (closed roads) course, but I still got a third.

Only because they kicked out the two 600's that were racing out of their class, and in the F1 class... But I'll still take it!

In those days, mine had Yoshi 1135cc pistons, Yoshi stage II cams, and Keihin 33mm CR special carbs, and a handmade exhaust - plus I'd fitted some Koni rear shocks, with heavier springs, and 'firmed' up the front suspension with more oil in forks, preload wound up, and some air (10psi IIRC) in the forks also. It was kinda firm, until +140kph on the road (then it smoothed out nicely), but it gave it a lot more ground clearance than stock...
Race tracks were more fun, but after 100mph, the GSXR1100's (18" wheel ones) CBR1000's and FZ1000's fairings took effect, and they'd pull away from me on the straights.
After I converted it to 18" spokes, and fitted some Michelin radials - they didn't have anything on me in the corners (when not on slicks) - but their fairings were just too effective over a 'naked' bike, and they'd get too far away on the straights.