Not true - there is no "new CCT"; they are all the same, regardless of whether the dot is red, pink, purple, or green. You have a choice of replacing them every couple of years, or ditching them for APE CCTs, or converting them to manual. If you don't warm the bike up by leaving it idling on the sidestand, and don't use engine braking excessively, they'll last longer. If you buy APE CCTs, don't get them from the local dealer - he adds 100% just for ordering them from the US for you.
Other issues:
Gearbox. If you get a newish, low-mileage bike, get a Factory Pro Evo Star kit for it before the changes get crappy. (That's if they actually make one). Also, don't keep the chain too tight - it will make a tired gearbox much worse for popping out of gear, missed shifts, etc.
Cutting out: They can have issues with cutting out if the idle speed isn't set right, and the carb's are set up a little lean. You go to change down or come to a stop, and the bike does a little backfire and blows the flames out. Easily tweaked to fix it.
Suspension: Too cheap. I actually thought my stock suspension was pretty good compared to other Hondas I've owned, but it's not set up right WRT spring and damping rates. Replacement front springs and a new rear shock are the go.
Comfort: The early models (pre-2001?) have handlebars that are too low for around town, and the seat is not designed for humans. Baboons, perhaps?
Gearing: They're geared WAAAAY too high, with the engine turning over at only 2600 at 100km/h. Fit a larger rear sprocket/smaller front sprocket and up the smiles/miles ratio heaps.
Looks: Not much you can do about those, but the VTR is one ugly mofo. An aftermarket bellypan or fairing lower helps. Then again, you can't see how it looks when you're sitting on it.
Fuel consumption: I was lucky to get 30mpg from mine, or about 150km/h per tankful. Just one of those things, I guess. Just keep an eye on the mileage, because when those 48mm carbs suck the dredges from the tank VERY fast.
Electrical: Apart from the aforementioned R/R issues, the front plug lead/boot can be problematic, as it's exposed to water/shit coming off the front tyre. Mine had a very small tear in it, and whenever it rained the ignition would cut out. Easily and cheaply fixed.
Brakes: The front brake lines are stupid; the 'hump' above the front mudguard collects air bubbles which are hard to bleed out, and makes the brakes VERY mushy. Fitting braided lines can make them feel a bit wooden, but improves things heaps (and looks kewler).
Power: 'Adequate', but not huge. The wheel-lofting torque hit that starts at around 3k rpm is nice, and I still miss it. Unfortunately, there's not much you can do to liberate more than a couple of HP without spending HUGE money on cams, pistons, etc. In any case, if by chance you did achieve Ducati-esque power levels, the bike wouldn't be reliable any more, as the crankcases can't handle more than about 125hp before self-destructing.
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