My wife actually suggested I keep the M for her. But in reality, we probably wouldn't get out riding enough to warrant insuring 2 bikes.
As for the VMax and 2 up, its actually more comfy than the stock seat on the M50.
The revamped VMax is due out in '09, but my guess is it'll arrive mid year.
Story is the new one will be the most expensive in the Yamaha lineup. I'm content with the old style.