As it is an air-cooled bike I would be partial to runnin g a synthetic oil such as Delvac l or Rotella T synthetic. The synthetic Rotella has a very large and growing following in motorcycle-dom (I use it) and it is cheaply sourced at Walmart in America. Nothing wrong at all with regular Rotella (have used it) but AC'ed machines can run higher overall temperatures and beat up the oil to a greater extent than LC'ed machines. Amsoil sells good bike oil but I cannot justify the expense of it given the good performance and value of HDEO's such as I've mentioned. Delo is well-liked, too. Just use the correct viscosity for your expected operating conditions and don't run too long between changes.
As for a filter, check to see what automotive application corresponds. I am not sure if your bike can use the Fram 7317 size filter like mine does. That forum mentioned above will likely tell you. And I mention Fram ONLY as it pertains to sizing. Steer clear of those. The Pure One and Mobil 1 filters have excellent bike reputations. As well, Baldwin and Wix filters are wonderful for bikes.
I may get an SV650s next summer for my wife. They seem like a great machine. Might go for the DL though, but still in the 650 version...
John.
