As for distance - though I've regularly done 1,000 to 1,200k in a day to get somewhere by a certain time, my preference is to keep down around 800k. For me the ride is definitely about the ride, but probably more about the camaraderie. I like to be off the bike by around 4.30 - 5pm and on the verandah of some pub somewhere bullshitting about the ride and the World in general. I don't care about getting a shower or a feed, I just want to talk to someone after spending 10 hrs plus locked inside a helmet.
As for the camping equipment - forget the swag - they're too big too carry and too small to fit your gear inside or get dressed in in the morning when it's pissing down outside. Get at least a 2 or 3 man tent so you have room for your gear inside and are still able to get your gear on inside before emerging into the elements.
For a bed, my preference is for a 3/4 self inflating mattress, probably not as comfortable as an inflatable mattress, but easier to inflate without the necessity of taking a pump of some kind and easy to pack down to a reasonable size. Be warned though, the cheap variety self-inflatable is not worth having, they are either too thin or the outer shell is too flexible so they turn into a quasi-inflatable that doesn't work at all. I've tried a few and my current one is a Black Wolf which is good. You can get full length but it's just that bit more packing space.
For a sleeping bag, ensure you get one big enough to fit comfortably into and it's very handy if they come with one of those compressible bags, so you can pull it down to minimal size to save packing space. I prefer to be able to get all of the above and my cooking gear into my Top Box, but if I take the 3 man tent, I have to put it across the back seat because the spars are to long to fit.
