Well I read thru the FJR Mod and figured I got some time to kill so I went for it, pics below but it was easy enough
1) Open the fuel cap
2) Plug the fill port with a rag, it would be easy to drop something in there and make a 30 minute job MUCH longer.........
3) Remove the fuel cap assy from bike, note the bolts lengths - they must be returned to their respective holes
4) With the cap assy on your work bench remove the 2 philps screws from the bottom of the cap, slowly remove this latch, on the latch side you will see the "T" Dodad that holds the key - remove that peice and there is a small spring under the Dodad, remove that also.
5) Reassemble without the Dodad or small spring, you might have to turn the key to line up casting cutout grooves while tightening the two removed philips head screw, so don't tighten these until the key is operating normally.
6) Reassemble the gas cap assy onto the tank.
Conclusion - this is close to what I wanted, the cap operates like a deadbolt at your house, you can open the cap turn the key back to the close position and remove your keys from the cap, BUT to close the cap you have to reinstall you key into the gas cap, turn to open position before closing. Seems sort of a pain, but no keys hitting the tank paint.
Since it's a fully reversible mod I'm gonna try it for awhile and see if I like it :
Thanks Guys for where to find this info....