I'd tell you to stay with the speed limit, but that would be hypocritical of me. Best asdvice is to get Nick Ienatsch's book, "Sport Bike Riding Techniques", read it carefully and then ride your own ride. Don't worry if everyone else is going faster than you, just ride what you feel comfortable with. If you do decide to double the speed limit you should: 1) keep both your bike and health insurance up to date, and 2) keep enough in savings for some fairly large donations to the city/county/state coffers.

 

i just took the msf course. im a beginner on the street but not to dirt. but it helped me out a whole lot more. i was riding on a nighthawk 250 when i took the course, and in the range i got cornering down pretty dang good for only a couple hours in a parking lot. and by good i mean, taking them real smooth. i was about 1/2" from the foot pegs or mufflers on the ground pretty much the whole time my dad said.
but they(the guys who taught my course) also helped you take a turn then come to a stop in a turn without sliding or what not, which would help ya out alot if a deer, car, traffic was around the corner that you couldnt see

 

i picked up the sportbike riding tech. book . i checked ou ttwist of the wrist and read it for like 30 min and got nothing i picked up this sportbike riding tech. book read it for like 5 and relized it was more of what i need to start with .. when finished then i will start the twist of the wrist books and dvds

 

seat time seat time seat time, the more you ride the better you know your bike and how it works, you can read shnit till your eye's fall out, aint nothing gunna help except experience. dont matter how long you've been riding, but how much you ride. Learning turns is hard scary stuff, all my homies keep yellin at me to get my bumbum off the seat, took me a long time to listen but after i started hanging off the side of the bike my speed's started coming up. never give it more then 70% though, that way you'll have fun and go home, and that's what's important, dont matter who's first who's last just that everyone goes home in one piece.

 

i like to ride last with new people that way i can see how everyone rides thats a good idea i think cornering takes practice to learn and just when u thnk youve got it down BAM you slide off the road, oh wait that was me, let the better riders push you just enough to progress, and make sure your sandals are on tight when u ride so they dont fly off

 

+1 for the MSF course. They will teach you cornering and such and watch you do and give you corrective criticism. Really helped. Granted i haven't been riding for about 2 months when i took it, but you will learn from it plus if ya laydown the bike or drop it IT'S NOT YOURS big bonus for practice. I think i am going to get that book your talking about though it sounds like it will help. The people that offered my course also had a advanced course that you used your own bike where you could do the same manuvers and some more, but you had to use your own bike. I am out on that deal though i like my fairings nice and clean. They also make you lock up the rear tire showing you how to control the skid and how to brake hard and dodge stuff.