WARNING THIS POST IS A GROSS GENERALISATION BASED ON PERSONAL OPINION
once prepped as a racebike all the bits that differentiate between the various models arent fitted ..
eg,
engines.. pretty much the same from 89 to 2002 (or whenever they stopped making them) all capable of the same power
suspension .. well, you fit aftermarket stuff innit

airbox, will be junked for ram-air, works on both L and H
bodywork, most race fairings are L shape, but will fit an H ..
ignition, which has a better advance curve is a grey area, H's rev higher than import Ls (14,800 compared to 14,500) but UK spec L's rev higher still (14,900) .. not a lot in it .. and programmable ignitions to mate to an L loom arent going to break the bank, so again its kinda irrelevant.
etc etc ..
the H1's use a smaller diameter rear wheel spindle and different sprocket carrier, also a heavier swingarm .. also smaller headstock bearings.. maybe a problem ?
as for which is best H versus L .. the L is potentially a bit lighter.. but really there's not a lot in it .. i've had several of each and prefer the H's, (my racebike is an H1) no real reason why i prefer them .. maybe its just the shape of the tank and riding position, dunno, feels a bit more planted than the L4 i had .. touch more forgiving.. + its eligible for pre 1990 classes
ignoring the pre 1990 thing.. my pick of the bunch would be an H2.. seems a lot of folk run an L as a main bike and an H as a wet bike ..
just get one with a spec that suits you're level of riding, there's some outrageous HP claims floating about, but anything over high 70's is either bullshit or liable to need refreshing every couple of race meets.. i've heard people claiming 90+ bhp .. IMHO its bollox, RMKD built an uber trick zxr that made a genuine 82bhp (ish) they call it reliable, and it didnt blow up, but it did come apart a lot (apparently)
dont be tempted to pay extra for something based on an SP, you'll need the engine tuned anyway, and the suspension, so by the time you've done that the fact it started life with more adjustable forks and shock + adjustable cams, FCR's and a different CDI is meaningless.. course you'll still have the SP close ratio gearbox.. but just as many hate it as love it, and you'll lose it the first time the engine pop's or you fit a spare or whatever, unless you swap the gearbox internals over.
there's loads of info buried in the forum here ..
oh .. yeh ., Hi !