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Just replace the front sprocket and ride it around for a while. You may decide that is the best overall gearing. If you also replace the rear with a smaller one, You may discover that now it has no pull from a dead start--i.e. it is over-geared.
That is a poor exhaust design that makes you loosen the exhaust bolts just to change the oil. (You don't actually have to remove the exhaust to change oil.) If you go with an aftermarket full exhaust, maybe it won't be in the way of the drain plug.
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