Hi and welcome.
  I do love the Sp1's very nice!!  S4r is basically a naked 996 so the usual Ducati stuff to look out for im sure someone else will be along to direct you to a thread or try a search.  The S4r has only been out a few years so has all the later electrics etc. 
 At 12,000 miles or 2 years the major service should be carried out which includes a belt change I would ask if this has been done as it can be around 550-600.  Also ask if the rockers have been checked to as part of the service. 
 I'll have a pint of Guinness seeing your at the bar

  Just noticed your in bristol to, which dealer is this at? its quite cheap for an 03' S4r 
 [Edited on 27-10-2005 by Lee1980]