1) The correct fork springs for your weight, especially if you're any faster than a C-group rider. It will really improve your confidence and safety. If you're an A-group rider, a better rear shock and the correct rear spring might be a good idea also. Revalving the stock rear shock is fine, although Penske, Ohlins, and Elka all make triple-adjustable shocks now. You can ride it with a stock shock, it's just going to spin easier.
2) Once you've got the correct fork springs in it, set your front and rear sag and adjust your front and rear rebound settings before heading out onto the track. It's not hard to do.
3) Tires. If you are a C-group rider, then any late-model sport tire with enough tread will work, although I highly recommend a 180/55 for safety. If you are a B-group rider, then a new set of track day tires like the Diablo Corsa will work, but if it starts spinning on corner exits, you may need to run race tires. 180/55 on the rear. If you are an A-group rider, then you're probably going to need race tires. I do not recommend Dunlop race tires on the Hayabusa. There have been a number of Dunlop race tire explosions on race bikes a lot lighter, slower and with less torque than the Hayabusa. I also cannot recommend Michelins because they're French. I have no experience with Bridgestone race tires. The Metzeler Rennsport and the Pirelli Supercorsa are the same exact tire, with a slightly different tread pattern. They also have a 190/55 rear that is optimized for the 6" rim that comes on a lot of the bigger bikes like the Hayabusa. The 180/55 will also work. Your tire vendor should be able to advise on compounds, but it seems that most of us run the blue label RS1/SC1 "Supersoft" (soft) compound front, and the green label RS2/SC2 "Soft" (medium) compound rear. They warm up in one lap, even without tire warmers. Get a fresh set to start every track day.
4) Adjust your tire pressures to what your tire vendor tells you. I run 30/30 cold. The 180/55 and 190/55 will change the handling of the bike (for the better), and it feels a little odd the first time you run track-type tire pressures, so feel it out before you start to push it.
5) Brake pads. I prefer the EBC "kit" race Double-H pads. The correct part number for the Hayabusa is GFA188HH. They work as good or better than the regular FA188HH pads at lower speeds, and when you really start coming down on the brakes from over 150 mph, you'll like them even better. They will go a long ways towards making you more comfortable at speed on a race course. There may be better brake pads out there, but I haven't encountered them yet. If you haven't ridden with really good brake pads yet, pay special attention as you're bedding them in. The inital bite of these pads, as well as the impressive power, can take you by suprise. Make sure your front tire is warmed up before you start hiking the back tire.
6) Braided stainless brake hoses, especially if you're any faster than C-group. Turning truly large speed into truly large heat can melt the stock rubber brake hoses. Any brand of braided stainless brake hoses will work. The dual hose kits do away with the stupid "cross-over" hose and make it easier to bleed. This will give you better brake feel, and combined with something like Motul's 600F degree brake fluid, will make your brakes pretty much fade free. I have powerful hands, but if you don't and you're not getting enough braking power with this set-up, a Brembo radial brake master should be next on your list. You'll probably be fine with the stock one. I was. You should be able to hike the rear tire at pretty much any speed on the track.
There are any number of things that I could list for items 7-10, but putting another inch or so of ride height into it (shorter dog bones), taking weight off, and shortening the wheelbase (any combination of chain and sprockets that is up to 3 teeth shorter than stock), and doing stuff to minimize crash damage (notch levers, bob rear brake lever, remove mirrors and rear signals, install full set of sliders, billet stator cover) would be good ideas.