Not sure if they still do, but the big four manufacturers used to limit the bikes at 186, at least back in 2010 anyways. Also, the speedos were all off from the factory. Not sure why, but it was @6%. Had to run a speedohealer to correct it. Wasn't too big of a deal because changing the sprocket (gearing) was quite common so you'd need the speedohealer regardless.
I haven't had the bike up that high, but my bike has been flashed, and generally most tuners remove all of those factory restrictions. I'm still on stock gearing as well.
What exhaust? Bike sounds good.
Two Brothers exhaust, but to be fair to Yamaha some of that sweet exhaust note you hear is due to engine design. Yamaha R1 cross plane engines just have a unique sound of their own I love it!!!!