Seriously though
Cracks in the plastics around the tail, particularly where the tabs screw onto the sub frame. Not a massive deal because you can fix them pretty easily
I don't think there are really any inherent flaws though in the 04/05's other than Mushy brakes, but they're OK for the road. I've heard stories from the US of alternators shitting themselves but I've got no idea what the signs are.
Other than that just the normal sportsbike stuff I reckon. On friday I was in at Bikebiz Kwaka and i notice they have a Titanium 05 in there. They probably want too much for it but you never know
If you're looking for an 06/07 just be aware that they look shit

Runs and hides from the Gumby owners......hang on a minute I are one.....