Just finished replacing the burned out stator in my 09 Versys. The installation was a success and it is once again charging the battery! The service manual has a good guide for the whole process, but here are a few supplementary tips...
1. Make sure you have a torque wrench that does in-lbs
2. Gears might fall out when you take the generator cover off, just be aware. Fried stator anyone?
3. They don't mention the little triangular metal piece bolted to 3 bolts on the generator cover that provides one of the three mount points for the lower fairing. Not mentioned in the '07 SM.
4. Rotor is magnetized which makes it tough to line up the holes when you replace the cover. Took me 3 times, so be patient. Also make sure the idler gear, torque limiter, and shafts are pushed all the way in before putting the cover on.
Installing the stator in the cover was the hardest part. The rubber gasket that seals the area where the wires exit the generator housing is too close to the stator. I barely managed to get it into the slot.
Looks kinda sloppy, but couldn't think of anything short of cutting some of the rubber off. But that could possibly cause a leak.
I'm fairly new to working on motorcycles, so this was definitely a test of my skills. It was fun, but hope I don't have to repeat it.
Hope you have success too!