Nice work Nick
As an owner of a 2020 model of this bike I can agree with all that you said in your commentary. About the only thing I could add would be in relation to the bikes "off piste" abilities.
Having taken this little machine over graded forest trails and the occasional lumpier section of dirt, my thoughts are that its OK on the former but the later requires the bike to be raised at least another inch. I made & fitted a sump guard and because of the large catalytic converter under the engine, the guard hangs a lot lower than I'd like. Its low mounted position has led to some rock/metal interface encounters that I really wasn't expecting. All this on a newer model that has an extra inch of ground clearance over the original 500X due to its 19" front wheel and raised rear ride height!
I was hoping to take the CB south this year and clatter about the Yorkshire Dales trails on it. Seems like the only good thing to come out of the C19 lock-down is the fact that I only rode the bike off piste up here and found its limitations. If I'd have tried Dodd Fell on it, the story would have had a much diferent end . . . probably
I can and have compared the 500X directly with my 1998 600 Transalp because to my simple mind they each represent the bottom of Hondas dual use range of bikes for their respective periods. The afore mentioned ground clearance issue for lumpier sections of non tar riding outings is not one that the Alp shares - 21" front and MUCH longer suspension = plenty of ground clearance.
Add to that the sensory difference when riding the Alp (V-twin engine) compared to the 500X (parralell twin engine) and, for me at least, the Alp is a keeper.
I can compare the 500X engine to another bike in my garage with the same engine configuration - BMs F800GS, and for me, when comparing one to the other, the F8GS engine has a sound and a "feel" about it that the 500X engines doesn't.
All the above are, of course, subjective observations based on my use & ownership, others may have a different "feel" for their 500X. Me though - I've just put the 500X up for sale on Gumtree.
Just my ramblings.
Steve T