I agree with nearly everything above, but I found the petrol consummation not as good. I rode a Transalp for years and enjoyed it, I had an accident on it; the price to rebuild was to expensive, o I bought a AT. I am only 1.74 tall and I find the AT too high and top heavy; I hardly touch the ground. But while riding, she is big and powerful... and yes you get noticed!!! Never did understand why Honda stopped producing this bike. I too had to replace the breakers and fuel pump.
I had the second model, ie the first 750 model, which I think is the best of the bunch, but eventually merged a 750 lump into the 650 frame with the smaller swingarm and ended up with the best of both! Suddenly wheelies were effortless due to the rear sprocket, and top speed was barely changed. The single disc is good enough and less violent off road. Did Algeria in early '92 and all over Morocco - that's what this bike was meant for.
Fuel pump went after about 100 000, but you can take the cap off and short it out as a roadside repair until replacement. Not as good as a GS on road, but on the really rough stuff it is unbeatable. Michelin desert tyres are a must, as the front loses it in the sand unless you really gun it. Seat needs softening with a sheepskin, and you can drive all day with a comfy bum.
It's just about manageable in dry conditions, but in mud it's too big. Forget UK green laning, but for Australia it would be perfect. Why did Honda stop making this bike? It was the only bike they ever made that was truly an all round performer. Oh, almost forgot. With a sport pipe, a few extra horses popped out, and what a rorty sound!
I loved this bike, but it has been surpassed by the BMW HP2.