I traded a 2007 SE Ultra for a new 2014 Ultra Limited. absolutely love the 14. It's not just a few years newer bike, it's a redesigned bike in so many ways. I also live in Northern California and its so nice not to the heat issue. The handling and braking are also superior. Air flow is a added bonus. I added about three grand worth of stuff to make the bike my own, added the garage door opener and XM modular along with some chrome. Considering California taxes I figure I am between 9 and 10 grand below the cost of a SE Limited. If you shop around you will find a dealer willing to sell you the 14 without any dealer prep or even freight; especially without a trade-in.
The deciding factor for me was the test ride. the 14 Limited has amazing power for a stock motor, I simply added slip-on's and air cleaner. Not for power, I did it for added sound. I actually feel more performance from the 14 Limited than I did with my 07 SE. The comparison between the 2011 and 2014 would be closer.
Sounds like you can't go wrong with either decision