Two weeks ago I tested the 848 and after riding it I ended up picking up a 1098S with Termi slip-ons on Saturday, on blind faith that I'd like it. The 848 is nice, but the 1098 is much more of an experience. I'm totally in love with it after my first ride.
My last sportsbike was an R1, and I think if you're used to the power of a 1000cc Japanese bike than you won't be overwhelmed by the 1098, but you'll love the extra bottom-end pull that the twin produces.
I did 400kms yesterday on it and once I got used to the firm ride all I can say is that bike handles, stops and motors like nothing I've ever ridden before, I can't wait to get it on the track!
I agree with one of the last posts, I read the magazines and internet reviews before I bought the bike and most make it sound as though the brakes are deadly on the road. The brakes are just great brakes, if you ride with any sort of finesse than it won't be a problem. If you grabbed a violent handful of any of the latest model sportbikes brakes you'd probably lose the front. They're stronger than the R1 but in a good way.
I think as long as you're a reasonably experienced rider and used to high horsepower bikes, you'll be much happier with the 1098. The 848 felt a little nimbler, but not enough to forego the rocket motor in the 1098.
Keeping in mind my opinion is on a comparison between the 1098S and the 848, I can't account for the standard 1098, but I'm sure it's not that much different in handling.