Just fitted baffled plate to the 2003 R1.

When fitting the sump, there is what seems an oil level float.
This is hitting the baffle plate.

Do i remove the "float" and blank of, or, drill the baffle plate?

Iam not using Yamaha's clocks.

I'm no expert but here's my thoughts. I left mine in place because the baffle came with a hole. However some baffles don't to increase the 'baffling effect', so they do expect you to remove it. You are advised to overfill anyway to help with the effects of cornering & they probable assume you are going to plumb in an oil pressure sender/switch which might be of more use in a bec setup.

You could make a hole in the baffle plate to go round the level switch. The oil level switch will warn you when the oil level has got too low. This happens while there is still some oil in the pan to feed the pump and the engine. By the time an oil pressure light comes on, there is no oil and your engine is dead. Too late.

I found that the level switch could be reinserted after the sump is attached - its just the angle of it that stops it going in as one complete unit (5VY 05 R1)