I sold my Honda ST1300 to get the Versys. I wanted a light weight bike I could have fun in the twisties, but still tour comfortably on. Versys shines at both, its more of a sit up style and for me that's more comfortable. It would also make a good commuter. I'm riding round the San Bernardino Mts in Southern CA with it at the moment and its great on mountain roads. Has a 5 US gallon tank and averages close to 50mpg, so you can go 200 miles between fill ups.
Its the best of the many bikes I've owned (I still have my KLR and love that), but totally different beast. You can cruise at 80mph all day on the V, basically no vibration, my other half is good for 100+ miles at a sitting. There are really no downsides other than the fact that most add-on goodies come from Europe and are a bit spendy.