I have a '83 CX650E, the Euro sport model, not sold in the US. Same basic bike, engine is identical. Bike has 120,000kms and still runs like new.
While you have the engine out, replace the stator. It will fail, fix it now. Also, replace the plug caps/wires. There is a resistor in there that corrodes over time giving you a weak spark. You can sometimes take them apart and clean them, but better to replace the 25 year old ones.
Same power as a VStrom 650? Not quite. But they do have a pleasant surge of power above 6000rpm
Lighter? Good Luck, the CX's are heavy beasts.