I have both and they are very different bikes. Power wise, the V-Max launches very hard and has the additional punch from 5000 rpm on. Having said that, I'd say in a drag race it would come down to rider ability. I just got the FJR two weeks ago and bought the Max new in '04. The FJR is the first bike I have ever owned that I immediately liked and felt comfortable on with the first ride.
I probably have not answered your question/dilema, except to say I like them both a lot and they are VERY different machines. Around town, the V-Max is kind of like a lighter, really fast Harley, in short a hoot to ride. Any serious highway rides, or longer trips and I will take the FJR, or Honda ST1100,(another story in itself).
Jack.