My experience is slightly different. Whenever I went into the death wobble (above 110mph), leaning back and relaxing my grip on the bars was what saved me, each time. The harder I tried to fight it (death grip) the worse it got - always.
I kinda agree with Lankee here - hit the brakes and you're dead. Having said that, it's bloody hard to open the the throttle when you feel like you're about to lose it and go into a tank slapper at 100+mph..
In the end, it all means one thing: your head bearings are fubar!!
So do yourself a favor - get a new set from Gary @ Mondak Motorsports ($50 for both) and follow the directions posted here to replace them. The only bitch thing is the lower bearing race - if you can do a ring of MIG welding on it it's easy to get out, otherwise it's a Dremel job and be careful as it's easy to damage the frame this way.
Just remember - with new head bearings, tightened only to the Service Manual's torque setting (yes my bars still bounce off the stops when I test with my front wheel raised off the ground) I got to 135mph without the slightest hint of a wobble. I also tried braking really hard from high speed, and there is no trace of a breaking weave anymore either.
So I say - the head bearings get worn (quickly) by the weight of the bike, and they most definitely are the culprits for the high speed straight line death wobble. My bike has 40k miles now, rubber motor mounts, no frame strengthening, stock swingarm, swingarm bearings are the originals AFAIK and the only real stiffening upgrade is a beefier fork brace.