It really was a crazy idea and it didn't sell well in the US. Honda Europe sold a ton of them. Honda intended for it to be a replacement for the ST1300.
I have both a VFR 1200X and VFR 1200F, both with DCT. The F model is a ridiculous rocket ship - 0-60 is quoted some places as 2.6 seconds. It gobbles up the miles, but the power is so addictive and tempting that it really doesn't make sense as a sports tourer. The X has the same engine, but tuned for mid range and not nearly as much horsepower. Both models are great fun to ride because of the engine and the typical Honda quality.
In the UK, Ariel (the company that makes the Atom car) took the engine and chassis and made both the Ace - a bobber version and a naked bike version. They sell for roughly $50k and the backlog is years. They use the engine from the VFR 1200F for both bikes, but I'm sure the bobber would be more suited to the VFR 1200X engine due to the relaxed nature of that powerplant.
The X is great for blasting around, but so damn top heavy that it requires a bunch of extra thought (at least from me) at stops and low speed. My only complaint with both bikes is they exhibit very odd and dangerous behavior with mildly old brake fluid. I typically flush it annually on both bikes just to be safe.