I also came off of a 2001 RM250 and onto a 2011 KTM 250SX. I have to agree with most of what was posted. The RM was a turd down low and I would frequently stall it out while hopping logs in the trails. I even changed gearing and added 11oz of flywheel weight and it wouldn't matter. The RM was dead downlow, went apesh*t in the midrange, and kinda fizzled out on top. It was a very snappy, very exciting powerband, but was a real chore to finesse around a trail quickly.
The KTM lugs hard, pulls smooth and has more on top. It's not as exciting, until you start laying down some good laps and realize how well the power is produced. Mine also has a knock sound, but I think it's probably due to the 93 octane I'm running. I bet it would go away if I used something closer to 100.
The brakes are just stupid. There is no need for this much brake. I'm never even close to 50% effort on the front brakes. Most of the time I just breathe on the lever and the bike stops fine.
Ergos are pretty close.
Handling, I do feel like the RM handled better. I only have about 25 hours on my KTM, but I feel like I have to move around more (stay up front more) in order to get comfortable in the handling. I'm still not there, but it's not like I was always comfortable on the RM. On more days I felt dialed on the RM's handling though. The KTM is tolerable though. Keep in mind I have the PDS shock too.
They hydraulic clutch is nice. I never wanted one, and after just a few rides I like it so much that I would retrofit it to another bike that didn't have one standard.
Overall, it's a very nice bike and I have no regrets. The powerplant felt so good stock that all I did was lean the clip one notch (to cut down on the spooge) and that's it. I'm not even messing with needles or the PV spring. Between the motor, brakes, clutch and nice new package of the 11+ KTM, I can more than handle any negatives.