I have a 1st gen Bandit,rode my brothers 2nd gen Bandit,and also have a SV1000. The 2n gen Bandit is definatly smoother than the 1st gen.suspension wise(although I changed my suspension on the B12 and have the sag set at 30 mm) The SV suspension isn't as smooth as the 2nd G Bandit,but has a thread type shock,but is fully adjustable.
Motor wise, it doesn't seem to have the pull the tire in the air power that my Bandit does with just a twist of the wrist. But the weight is more foward, and it is deceptingly fast. You would think the speedo is wrong,because it doesn't feel like your going that fast but a quick glance @the speedo and you are! I also love having a 6th gear that my Bandit is missing(fixed with the new Bandit)
As far as handling, in the twisties,I can get around pretty good on the ol'Bandit. I've been known to give sport bikers fits,sliding off the seat and cornering at knee dragging angles. But with the SV all I have to do is think turn with a slight push-pull and I'm corning with alot less effort.
Ridding positon, my Bandit has the rear up 11/2"(not sure ,about 35mm?) and rear sets,but its still a more relaxed riding position than the SVs. I rode the SV for 225 miles Sunday though and only came home to keep the wife happy.Although the SVn has bars instead of clip-ons and longer swing arm and more relaxed ergos. I wanted the S, I want the cornering performance.And it actually my first bike w/ clip-ons. You just have to keep in mind that you want to keep your wieght of your hands.Being light on the bars is key to good handling and it keeps you from tireing.
As far a 2-up riding,my wife won't even get on the SV. She said it wouldn't be worth the pain and if I wasn't so selfish I would have bought a bike we could ride comfortably on together. But I want to go off by myself so I bought a bike
I love driving the SV,its the way I like to ride. I'll probably soften up the suspension and bring the Bandit back to stock ride hieght for 2-up duties. Maybe some day get a new Bandit for trips with the wife.
OH ya! mpg is better on the SV. I get 32mpg on the Bandit and I got almost 50 Sunday on the SV. I'm sure the new Bandits are better than my 98 with full exhaust,stage II jetting and pods. Dan