In India they are calling FZ-16 a derivative of Yamaha's FZ-1, But it looks more like Honda CB600 Hornet.
This is a nice site to compare various Yamaha bikes.
Some Pics of FZ-1
Yesterday in Zee Business's motor show "Wheelocity", they tested FZ-16 and called it a superb bike.They also said that this bike is not fuel efficient.So don't expect mileage more then 40km/L.
Maybe this bike is meant more for the performance seekers rather than the pure commuters ?
Yes, you are right.In India Yamaha is known for its power and performance bikes.It's biggest example is Yamaha RX-135.
P.S. : I think you like Ducati bikes (H)