In 2006 I rode a 1200cc 2001 Bandit across North America about 14,000 kms. I purchased it originally used with 4000 kms.
About 6,000 kms into the trip, my bike began to eat oil. I didn't understand why. Later, after the trip I found out why. Being young and stupid, the only thing I didn't check were recalls. On 2001, and previous Bandits, the pistons were engineered slightly larger than the cylinder. This would result in the piston rings wearing out, and oil eventually being eaten. By the time I arrived into Santa Monica, I started trickling oil into the engine... Starting at about 250mL a day. (after about 700 kms day rides) By the time I hit Whistler in Canada, then Toronto, I had to slowly ramp up the amount.
Other than this issue, I cannot rave about how fantastic this bike is. I've owned everything from GSX-R's to Ducatis, and there is no better bike than a Bandit.
My advice to you would be to grab the VIN number on the bike, and run it through Suzukis website to see if the recall has been done, if it hasn't stay clear, and buy a post 2001 bike, where they have been all fixed.