Depends...I've owned both, and sold my 550 to buy a 400. That being said, 99% of my riding is commuting around the city with the occasional rip down the highway. To me, it's more fun to ride than my 550 was...it's a great bike around the city, and is very reliable, like all the other 4's are. They all leak a little oil from the head gasket, which is about one of the only common problems I know of.
Now, that being said, on a calm day it's okay out on the highway, but It's certainly more uncomfortable than my 550 was in the wind.
As far as I'm concerned you can't go wrong with either.