You will be happy on either.
From what I have seen, the older 450's were the ones that had valve issues.
With that being said, and as much of a honda guy I am, I would say the valves on the yami are more durable... But at the same time I have seen many more issues (first hand) with the yamaha's... Usually small issues like the interference fit oil fittings coming loose and leaking oil as well as nuts and bolts coming loose... Sure, you should check your nuts and bolts, but the hondas stay tight from the factory.
I and my pa ride 06 honda's, my brother an 05, and buddy 07... My brother replaced his valves on his honda, but he never adjusted them and rode it into the ground. My pa and I on our o6's have easily 25 or more tanks of fuel through ours with no issues or adjustment... My buddy on his 07 has adjusted his, but he is very anal about maintenence.
The yami's in our group are 06 and 07's... Great bikes, but our 06 hondas walk away from them in the dunes... All of us ride with the same (scorpion cross) rear tire, and all riders are even weight except the 07 honda who is easily 30 punds lighter than the rest of us, yet my 06 will still walk away from him.
On a track, I like the bottom end a little better on the yamaha, it seems to be instant on the bottom, but doesn't have the mid to top pull of the honda... Yet in the mountains my buddies on the yammis kill the engine constantly and had to gear down (3-4 more teeth on the rear sprocket).
One thing about the honda, is if you are 175-200lbs, the suspension can easily be tuned for the rider with preload and clicker adjustments.
The yamaha is soft in the front end on a track and would need stiffer springs for me.