I bought my '99 Varadero about a year ago, after searching for something easy and comfortable to ride. After years on sports bikes and sports tourers, it was the last throw of the dice before I gave up riding on the road altogether. And thank God I bought it!
Even for an 11 year old bike, it runs brilliantly, is extremely comfortable, and even for a shortie like me (5'8") is so easy to ride. OK, pushing the bike around isn't easy, and it is pretty top heavy, but once moving it's a doddle. As with most Honda's, build quality is excellent, and it certainly doesn't look 11 years old.
I've since fitted a top box and panniers, and Arrow cans (I couldn't help myself!).
The only faults with the bike are it needs a 6th gear (which the bike got in 03) and the back shock is very soggy, but thats probably old age! Next on the list is a Hagon.
All in all, can't fault the old girl, and when she goes a newer Varadero will probably be sitting in the garage.