Once you go luggage, you never go back...... :)
Seriously though, it's a damn fine bike for commuting. I have a C14 & the ZX10, and I can say it's almost the perfect blend of streetbikes. The C14 is a big heavy bitch, but it actually commutes well. I can only imagine that the Z1000 would be a little less friendly on long trips, but more enjoyable in town or as a commuter.
If you can swing it, don't lose the Gen 3 right away. Having 2 in the stable might seem like wretched excess, but it's actually REALLY nice to have 2 separately kitted bikes. :)
Attack life... it's going to kill you anyway.