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I test rode the CB500X and the NC700X and ended up buying the NC (obviously, since I'm on this forum). I will say that both bikes felt pretty similar. The 500 might be a little lighter, but the 700 carries its weight so low, that they handle the same. The 500 engine requires more RPMs to achieve the same acceleration as the 700. I believe both are rated at similar MPGs, due to the 700s lower RPM requirements. The 700 has an ace up its sleeve, which the 500 cannot match: The Frunk. The CB500 is basically built like a normal motorcycle with a gas tank on top.
The valve adjustment thing for the NC700X would probably be never. Generally if the valves are stable after the first check they're likely to not recede on an engine like this for the rest of the engine's life. Think about it. This revs about the same as the Honda Fit, the European and Asian versions with the smaller 1.4 liter engine, they consistently rev about 4000 rpms and last easily 100,000 miles. How many people have ever adjusted the valves on their Honda cars?
So for me I like the fact that after the first valve check the valves likely will never need to be touched again. On a smaller high revving engine like on the CBR600 it's common for people to not even need to adjust valves til 30,000 miles.
I would say the ace would be valve adjustments. The cubby is real nice too. I can't believe they didn't lower the head on the 500 and give it screw and locknut adjustment like the 700.