Got some good laps in now on the '05 and thought I would pass on the differences compared to my '04... Engine- The airbox and intake madifold changes make a HUGE difference on the low to mid range power! It hits WAY harder in the lower RPM. Top end power seems the same. The accelerator pump changes definitely get it more in the neighborhood this year also. The bike doesn't fall on it's face when you grab a handfull of throttle. Suspension- The new boingers are SWEET! Although the springs are way too soft for me (180lb. Vet Exp.), The valving action is very plush and smooth. Much improved over last year. The rear of the bike feels a bit lighter too, thanks to the 1.5 lbs shaved off the swingarm. I'd say it's business as usual at Yamaha. They took an awesome bike and refined where it needed it, to make it that much sweeter! A great bike right out of the showroom. Can't wait to start modifying it!