Ok, I have a Pitbull front stand with the optional converter. The stand without the converter is a fork stand that supports the front end up using the bottom of the forks. The converter allows you lift the front end via the triple clamp. Although, you do have to remove the front fender as the Hayabusa fender is over sized and will be damaged if you do not remove it. The reason for the converter is so that the front wheel can be removed with ease.
When doing maintenance on the front of the bike I will typically use the fork stand portion of the stand. When I want to remove the wheel or axle, I will use the converter to support the bike as it is a lot more stable when removing the wheel and axle.
Hope this clears up the questions you have. BTW, the Pitbull products are top notch. Having said that though, I use a Redline rear stand with casters on it which is one of the best products I have bought for my motorcycles.