Thanks for the feedback, I like the fact that this thread has generated this level of interest. We are a sporting club after all so helping a member sort this process out is something thats good for the club and maybe for other members who are considering the same thing but haven't posted on the subject.
I've had a 20 minute conversation with Neil Spalding from Sigma this morning (who incidentally might pop his head around while we're at Donny) and he presented quite a good argument for converting my bike. Mainly based around it being well-prepped for it already (his grunter spec was designed when someone brought a 996 to him and wanted to go club racing - hence the even lower down the range high torque and power numbers) and being a known quantity. I would hate to buy a race Ducati and then face the daunting cost of a top end rebuild
The additional benefits from my point of view there would be that I get a bike at the end of it (I wouldn't sell it uness my circumstances dictated it) that had all manner of trick bits on it and it generally being a well sorted bike. Assuming I don't chuck it in a skip completely.
Having said that ... a few of you have said some things worthy of consideration. Felix has the best plan for cheaply getting into the race (Donny Oct 3) but contrasting that against WJB's stark reality of potentially throwing my road bike away in my first race meet just so I can get a taster - very expensive (Can you get insurance for this? It would be expensive if it existed I know - I would only do it if I was going to use my bike for the Donny taste test).
Thanks very much for your generous offer WJB - I think I will go ahead and get my ACU license but how much is the CB worth if I write it off?
I have read a bunch of blogs kicking around about people racing on the cheap - TZR's TZ's etc and other manner of Japanese machinery and I agree that it would be cheaper and still fun. But I really wanted to ride a Ducati - because I love them and I would like everything I learn on the track to be applicable to the other bikes I own (or intend to own eventually). I haven't ruled out that option but it's not what I want to do and I would only go down that road I think if I couldn't justify the money (or didn't have the money) to race a Ducati.
Neil also mentioned a 748 that he had just begging for an 853 kit and a flogging .... hrmmm ... possibly cheaper.
I don't want to look like a ponderous fool but please remember what stage I'm in at looking at this - embryonic so I'm bound to ask stupid q's and dither around - I have been accused of analysis paralysis before. I blame my job.
So far the best option (and wife friendly option) appears to be to race the CB in New Era and get a taster.
Lots of thinking to do - thanks everyone for all your help. Please if you know of websites where I can buy racebikes etc post them as well - it's all part of learning about what will and won't work. I had considered buying a written off beasty as well and turning that into a race bike. Thoughts?