> Verify that that Temperature Sensor is connected; then remove it and verify that it is clean without any scale buildup on the inner side that contacts the coolent....the temp gauge only comes up about a third of the way and fans don't come on...
Keep in mind that the fans don't come on in stand still traffic but the problem goes away if the bike is moving. If it were the thermostat, it would not make much of a difference in temp whether the bike was moving or not.I would also check the condition of the rad cap.
Check your coolant level cold.
Does sound like a bad thermostat though.