Guys,
Based on my initial experience with the Meteor 350, the fuel economy is PHENOMENAL! I get 75-80 mpg with mine. The worst I ever got was the low 60s when I forgot that our city was having an Italian food fest recently, and I got caught in the traffic; I was doing a fast walk in first gear till I got out of town. Even then, I got 60+ mpg. The Meteor has about a 4 gallon tank (3.96 to be exact); even at 70 mpg, you're looking at close to 280 miles of range; at 80 mpg, you're looking at 320 miles. Any bike with over 200 miles of range is fine with me.
Since the Classic 350 will be sharing the same engine, I expect the fuel economy to be similar to that of the Meteor 350. Sure, it has half a gallon less capacity, but even then, you're looking at 245 miles of range at 70 mpg; at 80 mpg, that goes up to 280 miles. Sure, the Classic 350 won't have a big tank, but with the way that gem of an engine sips fuel, you don't NEED a big tank! That's the BEAUTY of RE's new gem of an engine! It sips gas almost like a moped does. The question is: will your bladder hold out longer than the fuel tank does?
When I got my Meteor, I wasn't looking at range; I wasn't planning to do a lot of road trips, so long range isn't an issue. The vast majority of my rides are 1-2 hour jaunts on the local back roads on a nice day, with an occasional day trip thrown in. The Meteor 350 is fine for what I want a bike to do, and I expect the Classic 350 meet all my mission requirements too. Those are my thoughts...