The Gen 1 bikes are really good, but the Gen 2 is much better. First, it's lighter by almost 100 pounds, second it has more power everywhere in the rev range when properly tuned (i.e. Penner or a dyno). The Gen2 has more features standard that were accessories on the Gen 1 versions. The GT version has adjustable peg position (fore/aft) and heated grips standard. Also comes standard with cruise control and if you feel the need to get frisky you can install a quick shifter that bypasses using the clutch lever. My Gen 1 bike (05 Standard) I converted to a "Classic" with footboards and classic bars. My GT I have no need for the ergo change since it fits me right with the pegs all the way back.
My Gen 1 bike:
My Gen 2 bike:
