First off, the old independent style risers are still out there. Here's a
link to the ones I had on my bike for a while. They fit under each handle bar just using some longer bolts, and raise the bars up by about 1". They do not move the bars back towards you, like the old 1st Gen Heli risers do, which is what I had (and liked) on my '05.
You can see the riser under the bar in this photo:
I tried a set of these when I first got my 3rd Gen. It helps a little, and it gets the bars up enough so that you can mount Vstrom hand guards without them fouling into the two "boobs" on the dash panels. There is no problem at all with a big tank bag in this configuration. I run a Bags Connection City EVO tank bag, which is pretty big, but not all that wide. Here's a photo of it when I had the original risers still on there.
But I am 6'2" tall, sort of long in the torso, and ride sitting up high on a Russell Daylong, so this was not quite enough. Plus, compared to my old 1st Gen, I didn't like the handle bar stock angle. So I bought the HeliBars Bridge riser.
I first tried to install it using the techniques the MV Motorrad unit uses to gain hose length, just releasing the frame mounting blocks to get more hose slack, but that wasn't enough. So I sucked it up and installed the provided extension hose. I just used a MityVac to get the air out of the extension hose and there was no other bleeding required. The looks of the ugly extension bothered me at first, but I've gotten over it.
I have my HeliBar Bridge adjusted so the bars are all the way forward, which improves the handlebar angle for me. Even in that position the bars just barely nudge the big tank bag. The bag doesn't hit the horn in mine, it only hits the button to enable the cruise control. But I figure I'll never be going lock to lock in the steering when the cruise control is on, so that is a non-issue.
I researched the various options and determined that the HeliBar Bridge provides the largest available rise (up and back), and allows unlimited angular adjustment between the two extremes. Other than the ugliness factor of the hose extension, it is the best choice IMO. Here's an ADV tag photo I found that shows the relationship of the bars adjusted in that position and the tank bag.