So I finally rode the R1 I said that I'm faster than in the turns. I actually rode it in twisties and straightaways to get a good comparison and the best analogy of SV650S vs. R1 would be Rock Climbing vs. Ice Skating - my buddy said cougar vs. a bear.
I would say the R1 is similar in power to a SV650 until you hit about 8K RPMs and then it's like the gates of hell open up and all of a sudden you're doing 140 mph which is really cool unless those gates open while you're in the middle of a hairpin. The extra weight and better suspension is what gave me the "Ice Skating" feeling in the turns. To say the least, it was an AWESOME experience but I probably won't be riding it again anytime soon. There is no reason to go that fast, ever - and that's a lot coming from me.
To hear more on this experience, see the thread about police encounter stories LOL.