A few comments...
I've bought a cheap nasty glassfibre fairing for trackdays, and am planning on making it "just about legal" to ride to the track as I don't have a trailer - so cheap aftermarket lights, quick release plate, etc.
In terms of
what lights to use, I bought a pair of headlights for one of these off ebay
They are twin lights which can be separated if you didn't want to mount them side by side. And of course they are perfectly legal in terms of dip patterns, etc. I don't expect they will be particularly bright, but I haven't tried hooking them up yet. The scoot is a Suzuki AY50 btw.
As far as
where to put your lights goes, the short answer seems to be that assymetric lights (endurance racing style) will not pass an MOT. That's not really a problem for me as I'll still have the standard kit to use most of the time, so I might well do it anyway. But if it's your only fairing/lights you probably need them to be MOT-worthy. I think the best thing to do would be to get some twin lights as above or from another source and put them in as they are on the H model - symmetric and side by side.
Or of course you could fit standard lights...
For
cutting holes in the front fairing, what I was planning to do was wrap a bit of card around the headlight so you end up with a cardboard tube the same diameter as the light. Then trim bits off the end of the tube until it fits the curve of the fairing where you want the light to do, and sticks straight out from the front of the fairing. You should then be able to draw round the tube to give the shape of hole you need to cut. I hope this makes sense.
you will need to either make/modify a front fairing bracket to support the lights, or modify the fairing itself to add some lugs to screw the lights to. I'm happy to make suggestions once you know what lights you are going to use.