It would be worse off. The 535 is based on dimensions that'd fit into the Bullet frame, so has features going back to the 1930's. You'd gain 6 HP and all the weight associated with holding it down. It's one of the reasons they designed the 400 in the Himalaya from a blank sheet. You'll notice for example that the final drive sprocket is no longer inside the primary drive, so no contra-rotating shaft or need to drop the oil to get at the sprocket. This allows the tyres to be wider than Avon block-treads.
Andy