The contrast between the reactions of the Japanese and the Europeans to the recession and its depressing effects on motorcycle sales has been stark.

Where the Europeans have been redoubling their efforts with new models and pioneering technology, the Japanese have battened down the hatches to weather the financial storm, delaying new models and developments. Suzuki's GSX-R1000 has been updated for 2012, but still does without the traction control its rivals from BMW, Aprilia and Ducati have been using for several years now. There's no ABS option, no launch control, no onboard data gathering, but then again, there are plenty of riders who are wondering if they really need any of those. The GSX-R has had some significant changes though.

The most obvious is the replacement of the previous twin silencer exhaust system with a single one, a move cited by Suzuki as being largely responsible for the bike's 4.4lb (2kg) weight loss. Inside the engine there are new pistons, changes to help air flow more easily within the crankcase and there's a new exhaust camshaft, which together have been designed to improve the mid-range power rather than the horsepower peak, unchanged at 183bhp. The chassis is largely the same aside from revisions to the front forks, the latest 'big piston' design from Showa, which have reduced the suspension travel and made it a little softer to improve compliance.

The front brakes are the latest Brembo Monobloc callipers, and these grip slightly thinner discs, helping to lose a total of 130g weight from the front wheel assembly. The bodywork though is completely unchanged, except for the use of a different, more grippy seat material and slightly revised graphics, so save for the missing silencer and the distinctive gold Brembos, you'll struggle to differentiate 2011 and 2012 models. The new one does feel different though, and it's certainly better for that.

The weight loss is only something you'd notice swopping between the 2012 and old models, while the riding position is familiar GSX-R1000, which translates as spacious and not too aggressive for everyday riding. Fire up the four-cylinder engine and it snarls angrily, bringing some welcome character compared with many performance fours. No surprises in the blast of acceleration that comes with a twist of your right wrist – the 0-60mph time of bikes like this are around two seconds, with 0-100mph in around five seconds, and it's still in first gear!

But from around 5,000rpm (and bear in mind the redline is set at just under 14,000rpm) the build up of power is more linear than before, particularly around the 6,000-7,000 mark where the 2011 model had a noticeable dip. It means the bike is easier to drive hard out of corners, and when you do get near the edge of the tyre's grip, modulating the power demands less concentration. No traction control, but it's not sorely missed.

The steering feels different too, with some reluctance to initiate a turn – a common trait of big piston forks, which compress less than conventional ones on initial application of the brakes, meaning in turn the steering geometry changes less. But once the bike's into a corner it's sensitive to bar pressure and you have to relax your pressure on the bars to keep it steady.

It takes a little while to dial in to how the GSX-R likes to be ridden, so it's not quite as natural feeling as a Honda Fireblade, but once you have it's an extremely rewarding bike, as well as unthinkably fast of course. Those brakes meanwhile help maximise performance, offering huge stopping power with no tendency to fade even on a demanding circuit such as Homestead near Miami, where the test took place (the UK isn't exactly ideal at this time of year!).

They also release very progressively, important when you're trailing them into a corner, in turn letting you brake even later. It's a fine track bike then and thanks to its ergonomics and strong mid-range power, it's a fine road one too. The only real flaw is the engine's tingling vibration, more than the previous model's and which can start to numb fingers after sustained riding.

Some rawness in an engine is good, but this starts to interfere with the experience. The GSX-R's real problem though is not about anything that's bad, as it's an excellent motorcycle. It's just that with so much innovation going on around it, there's nothing in particular to single it out and make riders want one over anything. £300 cheaper than a Fireblade helps a bit, but that's hardly compelling.

Verdict: A fine bike but with nothing to stand out to make you really want one.