If you are staying with Tuoldo's there isn't a great deal of difference between an 03 Racing and an 04 Factory.
Spec's compared to the R model
Racing.
Later revision Magnesium engine - closer gear ratios same power
Carbon nose fairing, belly pan and seat unit.
Carbon seat cowl
Carbon rear hugger and f. mudguard
Ohlins Forks, shock & steering damper
different finish to mirrors
Carbon air intakes and coil etc. engine covers
White powder coated Oz forged wheels.
supplied with bikes when new, long race pattern belly pan, solin nose fairing, both in carbon. Ti race exhaust & chip.
Factory
As above with following changes.
Blue Anodized Oz forged wheels
No race bodywork/exhausts
Ignore the dog & stuffed toy, this is Araihead's bike, I linked his picture from the Apriliaforum gallery.
If you are looking for a really "special" Tuoldo get one of the original 2002 "R" models.
Spec' is pretty similar to the Racing, but they are entirely Carbon, and have higher spec forks than the Racing/Factories (allegedly)
The one word of caution with all the above - is carbon bodywork. If it falls of the stand you will be faced with a horrific bill for repairs. Paul (Araihead) took a car park style topple last year and his repairs were around the 2 grand mark.