I don't know how old you are, but this sounds to me like comparing a TR3 to an MGA. If you don't know them, they're just little cars. To those who know them- quite different.
The V50 is a pretty good little bike, but it depends on where you're coming from- and how big you are. Older Guzzi's are quite easy to cafe. They are often refferred to as "Italian Harleys" because of their V-twin tug / torque. They're simple and not hard to work on, but American dealers rarely have normal parts, so they have to be ordered.
That Guzzi may feel a little heavy at slow speeds, but at speed, going through a sweeper- it's scary how good they feel.
A Honda 4 is much smoother but has less low-end torque. Twice as much of everything to tune and adjust. In the 'States anyway, tune-up bits are easier to get. To my mind, the 400, 500, and 550 are the way to go. The 350 is too anemic and the 750 feels rather heavy (to me).