The Caribou setup is well worth a look. By the time you buy the givi racks and cases you're probably going to end up in the same neighborhood for price.
I can't say enough good about the Caribou rack and cases. Super solid, wonderfully unobtrusive when the cases are off, and just overall great design. Incidentally, one thing you should steal from Caribou if you DIY is the cables that catch the lid. They only let it open to about 80 degrees, rather than all the way to 90. This is awesome because it keeps everything from falling out on the low side since it acts as a catching point, not a getaway ramp.
'05 DL1000 - Dead at 66K miles.
Nerding it up at Wheelnerds.com