Morning Natman et al...
As Brook has stated it was set up to be used by the police or another emergency service. Honda MPE brought (if I recall correctly), 30 of these machines into Australia in or around 2000-2002. I remember seeing a great line up of them in their Campbellfield premises at the time. I believe the plan was to re-issue police forces that already used them like Qld, WA, but by then the 1100's where both out dated and considered too heavy, especially in Victoria, where they were never used by VicPol, or any other emergency service for that matter. Though Ambulance Service Melbourne had one as a demo which was seen at Phillip Island at GP's etc., but never used for purpose. And I believe Qld went with Yamaha, Vic stayed with BMW, so Honda distributed the bikes far n wide to dealers to get rid of them.
The most plausable explaination I can come up with for the 2005 on the Vin, is that Honda MPE is in Melbourne and in Victoria all vehicles that are sold from (in), Vic have their compliance plates date stamped the year they are first registeted, not when the were built or left the factory. So it is quite plausably that the machine you cited remainded with Honda MPE until they found a dealer to move it. I know the bulk of the bikes moved in 2002, hence the frequent references made here on the forum to 2002 ST1100's, whereas it is my understanding the last ST1100 left the Honda factory in 2000/1.
So I think the bike you cite here is a ligit ST1100, sold to a private individual who has subsequently added bits to it. So the odometer reading may well be correct. I acknowlege however, the 1100 odometers are easy to tamper with. But in this case, from the pics you posted, the bike looks genuine. And I have seen dodgey ST100's in Honda Dealers! Hey Laurie;-)
Cheers:-)