Marc what's your budget on this bike?
Keep in mind that a racer class bike will be more expensive to insure than a sport. A sport cruiser more than a cruiser and so forth. It may be worth your while to investigate insurance rates on the different classes of bikes. Not to plug but I find Progressive & Geico among the best ...but you really need to shop. If you'd like the number of my agent in Texas I'd be more than happy to share. He shops rates month by month and can get the best rate in any given month of the year.
Also, the Ninja 650 I talked about in the past had the look of a crotch rocket but was considered a sport bike, therefore lower cost to insure. The Suzuki GSX650F is a great selling bike and is comparable to that bike. You can save quite a bit this way. These bikes are also easier on the mpg.
The 250 cc bike typically get around 80mpg but I wouldn't take one on a highway.
The cruiser that I have is probably one of the better bikes you could have as a "first bike". It's a Boulevard C50C and I get 60mpg highway and about 55 city. I have all of the power I need to keep up with the larger cruisers and I pay a total of $279 annually for full coverage on both Tracie and I.
These bikes are roughly $7000 and under that I am talking about for 2008's. Right now they are selling the 2006 models at cost price and the 2007's just above. All 2008s are MSRP only. Only the manufacturer discounts these and gives incentives and rebates and such.
Another reason why I bought the 2006 bike myself.
If you're interested go to
http://www.first-turn.com/ and search "current inventory" and see what you like. If you would have any questions let me know and I can get an answer one way or another.
Good luck Marc and be safe.