What few reviews I've read on the R3 seem pretty good, Motorcycle Trader just did a ninja/honda/yamaha 300cc 'shoot out'. The honda had the best mid range torque/power, the yammy was quickest.
The MT-07 apart from being much larger capacity, has gotten excellent reviews. The Lams version is a specific model for Aus/NZ, smaller capacity {not 700cc} and a different ECU plus other modifications, airbox restrictor etc. If you want to keep it a while, really you've answered your own question, a 300 is never going to as good at 2up, or, distance rides.
If it was me in your place? I'd spend the extra 2k.
If the road to hell is paved with good intentions; and a man is judged by his deeds and his actions, why say it's the thought that counts? -GrayWolf
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