Ok I finely went and had to reg the bike today.
It was painless and they didn't even ask a single question =)
$98 for basic insurance and $302.88 to DMV I now have a tag and the title will be in the mail within 6-8 weeks =)
Only thing that sucks is that progressive will only insure basic coverage, I am going to try to fax them actual value of the bike so they will put comp on there but I wont hold my breath on that one.