First hand experience.
We did a big off-road adventure loop by trailering to Wyoming in 2014, then riding about 2000 miles on combined dirt roads, real trails and some pavement connectors. I used a OD green Gen 1 2003 with fairing bars and hard bags. It was a hoot, but could barely get it over 85mph on the dirt roads.

It had been modified by the PO, but I put it back to stock because it was over-jetted and extremely loud with the aftermarket muffler. My buddy had a well sorted Honda XR650 and blew us away for speed and control. Also did a trip from Michigan to Baltimore via the Hocking Hills, Ohio area with it and it did fine even on the freeways.
Do the doohickey and change the oil regularly. I miss mine some days, but the weight was a killer on the real trails. My DR 350 is much better for that. If it only had an e-start button, it'd be perfect.
If you get a Gen 1, I've got a free luggage rack in the garage for you.