I went and put a deposit on a Spade today. It's a 2019 and will have to be brought from the Carolinas but will take about a week. I'm not going to pick it up until my tax return comes through. While I was at the Kawasaki dealer that also sells Kymco I did get a chance to sit on a Z125 and I was quite unimpressed by the bike. It was a bit cramped, the seat slopes forward hard, and the bars seem lower than the seat (they are very close). The riding position felt like I was falling forward over the front end and the seat forced me up onto the tank. I also couldn't see the front wheel past the body work. The controls looked a bit odd and overall kind of cheap. It really made me feel better about deciding on the Spade, which even with a lower seat height felt like a much longer and more spacious bike with a far more natural riding position. The controls look more like a "normal" layout and had the same or better quality than the Kawi.
I had never considered the Z125 but now I am sure that was a good idea.
The 2019 Spade had the price bumped to $3,199 for some reason even though it's virtually unchanged from 18' but I'm going to work on the price if I can. All totalled I'll be paying (if I pay sticker) $3742 with tax and tag but no setup or delivery fee.