Yes, my wife says teh same thing and has been after me to finish our passenger peg lowering kit. In the mean time there are some available and discussed somewhere on this site.
passenger peg lowering - Bing images
Edit: Sometimes when you think about something long enough you can come up with an easier/less expensive way to do things.This just became my next project.
I would be interested in very simple solution something like universal attachable folding tip. This would require grinding/cutting off OEM tip prior attaching aftermarket one, but would work on any bike and that way you can adjust shifter length too.Maybe you can add a less expensive folding shifter, and a folding brake pedal to your selection Rick? That Touratech one is nice but way over priced IMO.