The Aero was released in 2004 as a single carbureted shaft drive model, they made this version until 2009, skipping 2010, because the phantom is the same thing as the aero, but they released the phanto with a new color way, and some cosmetic changes, and went to EFI. the VT750 AERO is a more classic cruiser style, lil bigger fuel tank, more comfy, higher seat height, and the Honda Shadow VT750 Phantom is more of a minimalist, lower bar position, more aggressively styled bike. It has a smaller fuel tank, lower seat height, and it feels a bit more nimble than the aero.
at this point, mechanically the phantom and aero are pretty mucht the same
The Aero is really marketed to and from what i have seen, purchased by folks who aren't really wanting to modify their ride, they just want a good looking honda shadow cruiser that rips and does a good job, the Honda Shadow Phantom 750 seems to appeal to a younger crowd who are more concerned with individual expression and customization.
The early years of the AERO 750 had chrome crankcase covers which were really nice, the engine was very similar to the VT750 Spirit in fact! the phantom was released and it had plastic "beauty" covers on the left and right sides of the crankcase and in 2011 when the AERO VT750 was brought back, it had the same crankcase covers. plastic.
As you can see the 2011 and newer aero and 2010 and newer phantom share many similarities and i have made a number of parts for these bikes. theres a gen 1 and gen 2 aero, yours being the gen 1 since its pre-2010, you have the nice chrome crankcase covers and a beautiful single carburetor, that is capable of delivering more fuel and air than that bike can ever swallow! put some pipes, a stack and a performance tuning kit on there and she will wake the F up!
In my humble opinion folks arent rally doing heavy customization because the frame just doesnt lend itself to a chopper style, but ive seen a few builds that werent awful. it just takes a lot more work to make one of the VT750's take on the look of a VT600. which is a bike that just begs to be made into a a chopper.
I'm not sure theres any wow factor to Hondas VT750 Phantom? its an EFI bike, has a few neat style cues and is a very reliable model from the honda shadow line. They are fun to ride though!!
Hope this helps man!