On a recent week-long trip with 5 other VFR's, every single rider found that a tail bag and tank bag had plenty of capacity. None of us were 2-up owever.
Joe Rocket Sport Saddlebags on a 2000 VFR with Two Brothers high exit full exhaust system (aluminum oval canister) work perfectly. They expand from 6" wide to 12" wide although they took me all the way to North Carolina from Florida without expanding them and they're getting ready to take me to California from Florida.
Check out RKA Luggage as well. I've got the 33 liter Super Sport Saddlebags in red. They look great with my '99 VFR with a high-mount TBR exhaust. I also have their 16 liter Super Sport Magnetic tank bag in red.
I don't know if you need access to the rear seat but I've heard good things about both the Rocket Locker the Ventura Bike Pack System. �Check them out.