Nothing wrong with a CBR500R. I used to have one. I liked many things about that bike. It's a great city bike. It's well sorted and easy to ride. Very smooth. Typical Honda quality, even though it is built to a price-point. The only thing I did not like about it was the engine. It's not a true 500, it's 471cc. More stroke, less rpm. Decent power, just feels kind of tame with the low rev range. It is a bit larger and heavier than the R3, but both bikes are very comfortable. It wasn't until I sold my 500R to get my 1000RR, that I realized I missed the comfort and practicality of the smaller bike. So that's why I decided to get an R3. Now I have a fast bike, and a slow bike. I can ride my fast bike slow... or I can ride my slow bike fast. I'm spoiled.