Ken the bikes are different animals indeed.
FZ1 is bike 51 for me so I have a broad range of bikes to compare from.
Value for money the Bandit wins hands down but if you like me with more metal in me than the Sydney Harbour Bridge the FZ1 is an old man's sport bike that can kick R1's asses provided the rider of the R1 runs on Testosterone and not experience.
On the FZ I have embarrassed many a 919 owner countless young bucks on R1's and Gixers without too many problems.
To ride the FZ to its capabilities you need to be happy drifting a bike and with the superb handling of modern sports bikes it appears to be a dying art.
I would not put that sort of work to the bandit as its suspension is rather "pedestrian" compared to the FZ and mine is well modded , but the Bandit motor is well up to the task and I suspect the frame is as good as the FZ so when I throw out the rear shock and have a good hard look at the front end I will give you a further report.
Different bikes and there is nothing wrong with that, I tried and did not like the Gen 2 FZ, despite the different chassis I did not like its handling. On my gen 1 I can just about take some metal off the Titanium Yoshi in the twisties at Phillip Island (No center stand) and worn out a few knee sliders there as well.
I will take the Bandit to a track day at Phillip Island soon to test its limits safely and report on what I find (alternately read the obituaries in the Melbourne Age newspaper)