After a while of riding bike doest go over 5500rpm

Fuel filter? If you can ease it on and get up to speed. Fuel filter and air filter are the first to replace. Cleaning the throttles would be next.

I would suggest the ignition switch is defective, examine the connecter to the switch for signs of overheating of the plastic connector shell and wire connectors inside the shell, if it shiows signs of heat then replace the connector and the switch. If the connector is ok then replace the switch itself. You may need to find the connector in a salavage yard or check with the delaer.

it sounds like your fuel filter is ready fr a change and that your main jet might be blocked or needle and seat might need checking cheers

I've seen wrong spark-plugs behave like that. Check opening.

Always have an escape route.
Never go through the intersection first or last.
Drive as though you are invisible not invincible.
If you are scared .........slow down
ALWAYS wear you boots and protective gear.
Go online and read up bike riding is nothing like a car. People will try to run you off the road.
I would find a manual for the bike. You may usa a different manual because all general maintenance is the same. Do a 10k scheduled and the bike will be fine.
Do not ride with dry rotted tires.
Have FUN and plz be SAFE

Try a new air cleaner, or strip down carbs and clean all jets .

i had same problem turned out to be electrical issue check all your wiring connections under the seat and under your fuel tank and if there all fine try checking that your fuel pump motor is running mine wasnt because of damp on my wiring connectors. when you turn on the ignition the bike should click a few times and your fuel pump should come on look under your tank looks like this with 2 tubes running from your fuel tank http://cgi.ebay.co.uk/yamaha-fzs-600-fazer-00-fuel-pump_W0QQitemZ250559832283QQcmdZViewItem?rvr_id=&rvr_id=&cguid=6d2769071260a0e2048322d3fffcee00
this needs to be running or you will be riding the bike on gravity fed fuel and as soon as you open the bike up you will not get enough to the engine and will cut out hope this helps

low on oil or have computer dynoed to verify limiter

when was last tune up?? tune up time??

Needles stuck indicative of instrument cluster complete failure. Cause unknown. This is second instrument cluster that has failed on this bike, first one failed at about 3000 miles, twenty-two months ago. This "new" one died in mid May 2008. Received word from Ducati North America that they will accept the warranty claim for the toasted instrument cluster!!! Am still concerned about cause...this is second instrument cluster for this S2R800. Seems to be an issue prevalent on some of these late model Monsters. Will update more after instrument cluster gets in and replaced by Bloodworth Ducati in Nashville.