I purchased my fazer (red) on 1st Aug 2010 & got it delivered on 6th Aug 2010. Just yesterday, I got my first (free) servicing done. Absolutely no problems as yet (as expected). In this 1 month I have covered a distance of 650 kms, which has given a fair idea of what fazer "actually" gives.
PROS
1 Looks:
Front Fairing - It is the main attraction for people opting for fazers when they are confused between buying fazer & FZ. It provides looks which no other bike upto 220cc segment offers. It is a sure-shot headturner on the road.
2 Confidence:
Wide tubeless tyres (front & rear) - Especially the rear one is really wide which gives you lot of confidence when u driving over corners or edges or while taking sharp turns. It gives superb grip almost as if it is tightly attached to the road ( I hope u get it !)
3 Rider comfort: Since the handle bar of fazer is slightly elevated as compared to FZ, it promotes upright & comfortable seating posture for the rider. I have driven for 3 hours at a stretch but did not feel slightest of discomfirt or tiredness.
4 Engine: It is smooth with minimum noise. Even at 90 kmph, it gives minimal sound. Since I have not gone above 90 kmph, I dont know about engine at those speeds. Even the exhaust gives a nice humming soung. Not loud at all. Plus u can switch off the Red Engine switch at signals & protect the engine
5 Value for money: Fazer seems over-priced considering the fact that its a 150-cc bike. I got it for Rs. 82, 450 (on road). But after driving for just a month, I sumhow get a feeling that my money has definitely not gone waste, & I m gettin value for money.
CONS
1 Cost: As I said, it is overpriced. Infact, it costs more than a 220-cc pulsar or karizma. Since FZ costs about 76000 (on road), it can be said that one would be paying Rs 6000-7000 more just for the front fairing of fazer.
2 Pillion discomfort: Any person riding pillion would definitely get a sore a** after a long ride. There is not much space left for the pillion rider, & if the rider is fat, then the problem is even bigger.
3 Low pickup: It takes some time to reach 0-60 kmph. I have noticed that while halting & starting at signals. Here pulsars are faster definitely. But after that fazer catches up big time.
4 Mud guard: It is just hopeless. If you dont use the mud guard, then the pillion rider would suffer with all the mud & dirt splashing during the rains. & if you use it then it almost totally negates the bulky looks of the rear tyre. both are not acceptable.
5 Turn Indicator: This one is sumewhat basic & wierd. When u take a turn (right or left), the indicator just flashes. it does not show the side of the turn. This basic feature (though not a big problem) is taken care of even in a Bajaj Discover. If a bike like Discover can take care of this problem then why not fazer ?
6 Costly Servicing: Not the free ones, but the paid servicings are quite costly (as told by one of my friends who owns a fazer). But that depends on the handling & usage.
Other Points:
Mileage : I have got 39-40 km/ltr on mumbai WE highway
But otherwise, in city traffic (eg Malad new link road, etc) I get 34-35 km/ltr
Maybe its a little less due to my driving style (which needs some improvement).
Ideally, it should be 45 & 40 respectively.
Servicing & Maintenance: Free servicings are light on the pocket (about 500 Rs.) But after 1 year, when the paid servicings start, it can shoot up considerably. In nutshell, paid servicings are costly.