Did you check for a low fuel warning eliminator? Sounds exactly how a C-14 acts when one of those is installed, other than the fuel gauge will go down to one bar, but never to [no] bars. The low fuel warning is really pretty close to binary, and it is either there and working or it is not; if not, you will get warnings and a flashing fuel level on the main LCD. No a warning page but rather the fuel indicator tree will light on the top and bottom alternating in one- second intervals. Not something anyone could miss or 'live with'. So if the display is otherwise functional and working properly, I suspect the bike is wearing a low fuel warning indicator, and there is no situation I can think of where that function can fail without the rider noticing something is wrong immediately other than using a L.F.W.E.
As for the fuel level bars, they are entirely separate from the low fuel warning system and so if that will not go below two bars, something is wrong, most likely with the sender. The service manual has the test parameters for the fuel gauge and it is quite easy to check, although you do have to have the fuel level sensor out to do that.
Brian
<snip>
The other thing isn't really a thing but still irritates me... The fuel level indication is still wonky and I don't get the low fuel warning. Still pondering if it is worth the expense to replace the float assembly.