With standard OEM wiring, the entire amperage for the headlamp goes through the starter switch. That power is then routed to the hi/low beam switch on the left handlebar. That switch can fail in the same way. Are you using a head lamp bulb that is a higher wattage than normal? If so, you will be even more prone to switch failures. I highly recommend the modification to protect both switches. I did mine two years ago and have had no further switch issues.
Here is the write up that I did at that time.
http://www.valkyrieforum.com/bbs/index.php/topic,55747.msg535635.html#msg535635