As I have the fuel tank off, and drained it, I guessed it might be a good idea to have a look at the fuel tap assembly and work out how the thing actually worked.
Its a little more complex than it looks at first glance – to start with there are two fuel lines that feed a bank of two carbs each, there is also a 6mm line that goes to the carb manifold and creates a vacuum.

The fuel lines are self-explanitory, but the reason for the vacuum hose less so. On the GSXR there is no fuel pump, it just relies on good old gravity to get the fuel to the carbs. There is also no shut off on the tap itself, so what happens is, that when the engine isnt running the vacuum isnt created and the fuel tap closes by the means of a small piston with a seal in it at the back of the tap.

Thats what this bit is – the hole is where the hose pulls air through, and the round bit in the metal there is a seal with a small piston in the middle on a spring.
Now just to confuse matters there are 3 positions on the fuel tap itself:

Reserve and On just mean what part of the filter that the fuel goes down, however and this is interesting, when you have it set on PRI, there is a small pin in the back of the tap, and when you turn it to that position youll feel the tap move in slightly, as its on a slight cam, that pin pushes back onto the piston seal and opens it without the vacuum having to be present.
Dont leave it like that though as it will fill the floats and eventually they will over flow. It will also make the bike run extremely rich.
So now you know!

Close up of the filter, so you can see how the on and reserve work!