if you got an r1 i highly recomend that you don't do wheelies in first gear, it's pretty dangerous. too much torque.
second gear wheelies are the best. get going in second until you feel the rear end start to load up then clutch the bitch. once it comes up, if you clutch it right it will come up, give it gas and you will be able to ride it to at least 80 or 90 mph. if you find the right balance point you can take it up to 100 mph.
on the new 02 r1 it's a little tricky because at a certain rpm the exup valve will open up and jerk your bike a little higher. it kind of takes you by surprise.
the trick is to have very good throttle control because when your are on one wheel even the smallest throttle movement will make the bike respond.
thats my 2 cents on the matter:butt