I think you may be low on the frame guess, way low. The F650 has /[had] quite a beefy frame for what it is. There was never an issue throwing some seriously heavy panniers on that bike. While with the G they have a kit that replaces the aluminum in the upper frame with steel IF you want to hang stuff off the side of the bike...What does that tell yah?
Plus the G carries ~2 less gallons of fuel, thus the tank is smaller- almost cut in two.
The dash is compleatly digital where the F had analog gauges for most things.
The rear suspension is an air bag rather than a traditional steel sprung shock (XCh).
That count you have on the rear swing arm assembly seems low as well. Steel has a density of ~0.27 lbs /in^3 while Aluminum is only ~0.09 lbs/in^3. Almost a 3:1 factor there...(dependent upon what type of metal actually used -but you get the picture).
But I tell you this.
After 3 years with the GS, I do not regret getting an XChallenge one bit. This bike is in the truest sense, much more of an enduro than the F650GS ever was. The XChallenge is an off road bike that has on road manners. Will still do 70 MPH slabbing it to work and with a sudden urge and flick of the bar, be 4 feet flying through the air.
...I just have to do something about the seat comfort for the slabbing part...Can you say Ouch...?
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07 XCh.