I have wired up the same, but using a cable and a bluetooth ODB2 adapter, I can use TORQUE on the Android platform.
BMW ICOM D cable ICOM-D Motorcycles Motobikes Diagnostic Cable
Is the cable. I ordered mine from a different place, for a whopping $12 with $ shipping. High quality cable. Better than I expected.
I plugged in my OBDII bluetooth adapter (cheapie from Amazon).
Using TORQUE, I am able to get O2 readings, throttle response, etc.
Using this, and a contour gps camera (or the torque app), I can record with GPS location and overlay throttle, lean angle, etc. onto video footage.
Much better than wiring the cables yourself… and a turnkey solution to boot!