Well, yes, the Tokyo is better with some mods, especially to the gears. I have a new saddle now, but haven't tried it out (I'm too wimpy to ride in cold or wet weather) - stock saddle isn't that comfortable, especially for a long ride.
+ Inexpensive; good sturdy steel frame; fairly small fold; standard parts other than the frame; easy to upgrade
- Steel = heavy; slow - better with upgraded gears but still slow; stock saddle is uncomfortable; folding mechanism works but the latch is kindof clumsy; seatpost QR broke and had to be replaced; handlebars are welded to the handlepost, so are hard to upgrade.
Notice that I have more minuses than pluses. Still, its a usable bike, and I've had a ball riding it. It's been taking a while to save the money I'll need, but eventually I'll replace my Tokyo. In the meantime, it is fine and is far better than no bike at all.