Is there a noticeable difference when riding each? I used to own a 2004 and I really miss it, but there are only gen 1s for sale around here. I know they did something with the forks and cluster, but if anyone has a subjective take on the feel, then I'd love to know, thanks.

 

Haven't ridden them back to back. I have a gen 1 but modded it to have a cbr600RR digital dash with fuel gauge and have a gen 2 motor in it. Kinda a hybrid.

You would want to mod the forks anyway. All being equal I would wait for the gen 2 if its not abused.

Good to hear you are getting back on a Superhawk

 

The difference to the front end was internal in the forks, and less rake on the clip-ons. If you're in the NA market, then it's the same old 16L gas tank. Everywhere else, it's the 19L. Honda also introduced the HISS(Honda ignition security system), however, once again, I'm not positive this was a NA market improvement. Perhaps someone else can chime in on this one.
In 2005 brake and clutch reservoir bottles were dropped for the rectangular ones.

I have owned both gens. I prefer my '05 over my '98 simply for the dash.

 

Fork change was one comp shim I believe to make up for the soft fork spring so no biggy. Dash change and HISS fitted in our market. Also 19L tank in our market. Bars and colour also.

Gen 1 are faster....

 

In the US market all the above changed took place in exception to the gas tank size, I wish they did, will never understand the reason why the didn't, just my little rant ;-)

 

My guess is that the bike was CARB certified (for California) with the smaller tank and changing a part of the fueling system would have required recertification and Honda chose not to spend the money on a model that didn't have top sales numbers. Only a guess, but don't let that stop you hating California.