I was on the fence trying to choose a V-Star Custom 650 and M50 forever.
I looked at the Hondas, but they didn't really appeal to me. I prefer the "bobbed" fenders, and didn't like the thought of a chain drive on the honda Spirit.
Loved the way the V-Star's center of gravity felt. Really comfortable and nicely balanced. Went and looked at/sat on a Suzuki M50. Like you, I didn't think it felt quite as low centered, but kept it on my list.
When the time came to finally choose, I went back to both bikes (for about the 20th time...of course) and finally chose the M50.
The main draw was the styling. The lines of the M50, from the tank to tail, just seemed to flow a little more smoothly than the V-Star. I also liked the "oval" headlight of the M50 more than the standard, bald headlight of the Yamaha. Also, I was wanting a blue/blue flames V-Star, and nobody had any in stock.
I ended up getting the blue M50, and couldn't be happier. I'm 5'11", 190 lbs. and this is my first bike. Never ridden before, but did take the MSF class a month ago.
Again, this is a decision that is totally up to you. Both bikes are GREAT bikes! There's just going to be something about one bike that will strike you and help you decide. I know that, if I would've gone with the VStar I would've been happy, but I would've kept wondering "what if I would've gotten the Suzuki..." because deep down I knew that was what I was really wanting.
The "balance" and weight of the Suzuki is a moot point once it gets going. I feel like I'm just floating down the road when I'm on it. If something doesn't feel quite "right" with you, though...don't get it.
Sounds like you're leaning more towards the Yamaha, and I say go for it, man. Beautiful bike, only heard great things about it, so I don't think you'll be disappointed.
Good luck!