I'm on my second 650 V-Strom and I only got rid of my 2003 example because I was going to work overseas for 2 years. As soon as I came back to the UK I bought a brand new GT model which I may keep for ever!
I went for the VStrom after using a Transalp to do some motorcycle instructing on. I have always had fast sports-tourers like ZZRs, VFRs etc but I loved the Transalp's riding position and handling. What I didn't like was the lack of power so I looked around and saw the V-Strom. It seemed to have everything going for it that I liked about the Transalp plus around 15bhp more power. I took a demonstrator out for a test ride and bought it as soon as I got back to the shop.
I find that the V-Strom is comfortable, much quicker than you would expect from a 650 twin and handles very well. Although it's the slowest bike I have owned since 1992 I am quicker through my favourite twisties than on any other bike I have had. It's so easy to chuck around that I have pegs down despite the large ground clearance. I always feel I am getting 10 tenths out of it.
It's also economical to run and I can insure it fully comp for well under £100. Tyres last well - up to 7000 on the back, 9-10000 for the front. The OE fit Bridgestone Trail Wings are very good and my friend (and fellow instructor), who bought my first V-Strom from me also rates them highly. I have done 220 miles on a tankful of petrol more than once.
Build quality is ok, I work hard to keep mine looking good but after 2 years and 6000 miles it has no furry fasteners or rusty brakeline crimps.
One negative point is the screen. I suffer a lot of buffeting around my head, regardless of the screen position (I am 5'11"). It is worse with my Suomi than with my old Arai though. I fitted a Givi touring screen which has improved things. Also the Suzuki luggage could be better - the panniers are too small and the top box, while big and very good, intrudes into the pillion space.
I love this bike, it satisfies all my motorcycling requirements and if you are looking for something different from hyper-fast sports tourers it might fit your bill too.