Well, besides the obvious (lower miles, newer) you aren't gaining much. The price seems a little high for the Kat. That was the last year for that body style (which started in '88)and the technology didn't change either. I don't know about the FZR, but the Katana uses an all steel frame, and is built like a tank. Totally bullet proof engine, but it is very heavy, and the suspension suffers because of this. It is more a sport-tourer by todays standards. While the FZR when it was released, was Yamaha's 600n sport bike. The Katana has never been anything other than a lower cost alternative to a more truer sport bike. My first bike was a 600 kat, and I enjoyed it-BUT- personally I say stick with the FZR or try and find a good Honda F2 or F3. Go to nada.com or kbb.com to check trade and retail values for your area.