Considering I just joined this forum today, I doubt my opinion carries much weight, but... I found the VFR 800 to be kind of cramped (never tried the 1200). I've had 2 of Viffers ('98 and a '06). Both were very capably machines, and I would say they helped inspire a level of confidence that can be hard to come by on many other bikes. I just found the 2nd time around I was less impressed with the VFR (purchased used each time). Of course in-between the '98 and the '06 VFR's I had a 2007 Yamaha FJR1300, so of course going back to the VFR would feel a bit cramped.
The FJR1300 was a superb sport-tour bike. I did not swap the stock seat on mine, which I probably should have done. I could do about 400 miles a day on it, but much past that and I would get pretty sore. At high speeds, in top gear (i.e. 5th gear), there was a fairly high frequency vibration that wasn't pleasant. It was a top-heavy bike. I'm only 5'7", with a 29 - 30" inseam, so I had to be a bit careful moving it around parking lots and such (same with '06 VFR). Very little to complain about on that bike. I had the electronic controlled clutch. Many riders figured that would be hard to get used to, but it was really very nice. Took me less than a day to feel, pretty much, completely comfortable with it.
Now I am on a 2009 BMW R1200RT and thus far I love it more than any of my prior bikes. I picked the '09 based on feedback from some of the BMW forums. Pretty easy to do the majority of standard maintenance on the bike, and the single overhead cam means it's easy to do valve adjustment. As far as how well it represents the sport touring models of years ago... not sure. If I understand correctly, BMW created the first motorcycle recognized as a 'sport-tourer' (not certain if that is true or not). What I do know is that the RT feel much lighter than it is (not really a heavy bike, for a sport-tourer), it is very comfortable, and it is plenty flickable on the twisty roads. Mostly I moved to the RT because my wife likes to ride with me and the VFR800 felt way to small for the two of us.
I think we all wish we could have multiple bikes in the garage, but only some are so lucky. I seriously thought about keeping my VFR800, but I think if I were to go for a 2nd bike, I too would look for something lighter weight, like the SV650, or maybe one of the many cafe racers out there.