YES....it does....I made the mistake of putting a high wattage output bulb in and though it took awhile with me riding the bike almost everyday....in the end (under a year approx. I think) I ended up having to rebuild the pigtail to the bulb due to it melting and causing a bulb failure as well as the potential for a fire possibly.(it was smoking lightly at the time I caught it!)...I have considered possibly putting in an HID but as edwyn pointed out...the reflectors for the light aren't always built the same for Halogen and HID and the broad spectrum of a Monster's reflector may not get the desired result of said upgrade!
There are solutions to getting more light out af a H4.
Osram, Tungsram, Phillips and GE make "high output" models of there H4 55/60w
They can be called diffrent things, like Silverstar, Megalight, +30% or something like that. I had them in my old car and they DO make a diffrence.
You also have the option of going with a 55/100w H4. Which gives the regular 55w lowbeam, but 100w highbeam. Maybe you can get them in the states from an offroad supplier, since they are strictly not "street-legal".
The best thing to do is upgrade your stock wiring, since the small wires they use from the factory aren´t big enough to supply the bulb completly, and you get a voltagedrop that reduces the effect of the bulb you have.
Just as he said, an increase in wiring diameter will equal an increase in wattage to the bulb. Another option would be to shorten up the path to the bulb. I was looking into putting a pair of relays into the bucket so I could effectively take a big chunk of extra wiring out of the equation. Someone else on the (old) boards had done it with good results. I ran into a small snag in that my relays would'nt fit into the shell without some minor changes to the casings. Still on my list but moved further down for now.