Nobody has IMO got a viable gen1 alternative.I have been looking since 2005. All similar bikes have issues, and issues which will cost to sort ..on top of a hefty new price tag.I have been trying several just now and still am struggling to find something which is a step on.About the only bike I do like Is the vfr1200, and rather curiously its Xtourer brother. Why ? ...cos the engine is simply fantastic. Just as in its day the FZS engine stood head and shoulders above the rest. Chassis wise the fazer has always been simple, not terribly effective, but easily modded, and for not too much cash.Its competition was bandit , zrx1200 etc. Both quite crude. Many mags rated the GS of its day as competition, but in reality they were totally dissimilar.Owning both a GS and a fazer now I can tell you they are still totally dissimilar, bar they can overlap in roles.Its the awesome power of the fazer engine in an ordinary upright frame chassis which is the difference. Even the Z1000SX has less power ...MS and 1190 adventure almost there but with mega price tags , and high seats.
I tried the new tiger sport , but its more of a evo of the sprint than a fazer , and suffers cheapo suspension, poor screen and hard seat. Almost like the first FZ-1 !..add in a curious steering wander to the front wheel at low speeds...and its disappointing for what is almost 10k.
You could argue the world has moved on with adventure bikes, but they are simply popular because they offer the comfort and usability lost in the evo of sportsbikes into racebikes on the road. Definitely the ewan and charley effect boosted the genre, rather than road bikes like the fazer taking over. My own thoughts are the FZ-1 killed the genre cos it was too sporty in bias...leaving the way open for adventure bikes to develop. Triumph copied the GS with its tiger 1050 in 2007, which helped set the trend. Oddly the S1000R is possibly the breaking point when bikes may go back to being more road biased. I welcome the change, but budget wise, its fantastic priced money ...bikes need to be sub 10k IMO to ever become as popular. Hence why I do think Triumph have missed a great opportunity with the tiger sport. It should have been the new fazer alternative.
Mind you , purists might say that the first gen1s were overpriced, had ineffective screens, hard seats and crap rear suspension....so hey ! maybe triumph have copied the gen1 !