Today I stopped in the local Honda shop to schedule a state inspection and chat with my nephew, who's one of the salesmen. As we rambled on, he showed me the NV700 which is a very nice bike. I'm not crazy about the integral saddlebags, but the rest of the bike is very nice and has shaft drive (that's a really big thing with me). What really impressed me was the price, $8500 w/o ABS, for a brand new 2010 mid-size sport-touring bike.
In comparison to what BMW is offering and the price difference, I think it would be hard not to choose the Honda.