I was cross shopping the M109R before getting our V Star 950 (I know, not even same league). I am a HUGE fan of the M109R and it has a HUGE aftermarket support.
That being said, I didn't know about the Raider at that time. After seeing a local guy with a modified Raider, that he has also put a 240 rear tire on, I think I would go with the new Raider, for me. Don't get me wrong, I don't think you can really go wrong with either bike and the M109R has a good reputation for running well for many miles, just watch out for 2nd gear issues with the tranny.
But after sitting on a Raider just a couple days ago and having also ridden a M109R, I think the seating position, controls, bars, etc are more of that perfect fit for me, even though I did like the M109R, too.
Good luck with your decision. Just have to decide which style you like better and don't look back!