I purchased a used 500 with only 2600km on it, nearly brand new. I've had it for a month so far, with some long distance rides on it. I have ridden before, but this is the first bike I have owned. If you are planning to get this bike, please read my review carefully to decide if this is the bike for you.
If you are a smaller rider or new into riding, this bike is very forgiving. Combined with very cheap insurance, this bike makes an awesome day-to-day commuter and a good platform to jump into riding. It has outstanding fuel economy, with a tank lasting you over 500km, if driven leisurely. It has a very easy use clutch that works well in traffic. Despite looking like a sport bike, it has an upright riding position, more like a cruiser than a sport. Unless you are sitting on the bike for over an hour, the comfort should not be a problem. If you are on it for over an hour, it feels like your backside has sustained blunt force trauma and you will need to take a break from riding for 10-15 minutes to recover (a custom seat should correct this problem). It has more than enough power to keep up with traffic, and 95% of cars cannot keep up should you want to pass. Its lightweight also makes if very flick-able into the corners and it does have decent handling. This bike would be highly recommended to less aggressive riders, beginners and commuters.
With that being said, this bike does have some drawbacks that all riders need to consider before purchasing this bike. First, THIS IS NOT A SPORTBIKE! While it does have adequate power, the engine feels like it is straining under hard acceleration. Gearing is also very short during the first three gears, which interrupts brisk acceleration to the point where in first gear, quick cars can beat you at the light until you get into second or third. It feels more comfortable at cruising speeds (110-130km/hr) than it does being driven hard. The suspension is also very soft in front, making heavy braking and quick corner entry nerve racking. The suspension also lacks anything but primitive adjustability. The rear brake squeaks unless applied forcefully, doesn't affect braking, but it does get annoying in traffic.
The small air-cooled v-twin just cannot compete with the larger displacement, higher tech bikes. A young rider who tends to have an aggressive attitude toward riding will outgrow this bike quickly. Trying to keep up with your friends on 600's will be difficult during spirited riding. My advice would be to get a 600 and start slow, that way you can grow with the bike. Acceleration will leave a lot to be desired unless you are really pushing the bike to its limits. It also doesn't have the wider tires that inspire confident high lean cornering. The biggest tire you can fit on back would be a 140 without modifications.
To summarize, this bike is awesome for a brisk drive into the country or for your weekend ride. Due to its low cost, low insurance and stingy fuel sipping, it will also make an excellent day-to-day commuter. If you are looking to have a sport bike then you are better off saving for a while longer to get a 600cc bike. Having your friends pass you constantly gets a little frustrating after a while. Quick learners and young people will grow tired quickly and want something faster and more capable within the first couple of months.
As a touring motorcycle, comfort becomes a problem when the ride gets longer...so be prepared for a sore backside. I haven't taken a passenger yet, so I can't comment on two up drive-ability. I can comment that the bike gets a little squirrelly in crosswinds and at high speeds. If you are driving on a major highway at consistently high speeds, be prepared to get fatigued quickly fighting the winds, as the windscreen is more form than function.
Hope this helps.