Depending on how tall you are and if your torso/leg length is average or not could influence whether one of these might fit better than the other. From your description, I'd say that the Cannondale seems to offer a lot of added value for the $400 but when I looked at the picture I see subtle differences in frame geometry that make the Novarra look more to my liking. To my eye, the top tube on the Novarra appears longer and more "road bike" oriented. The Cannondale looks like it has a short top tube and might favor a more upright riding style. It it were me, I would use a metric tape measure and take a few notes and make a few comparisons of top tube length, virtual top tube, head tube length and seat tube length, standover height, etc...
Possibly either bike could be adapted to your individual physique and riding style. I purchased a size medium Cannondale T-800 touring bike off a guy from Craig's list for, I believe $200. It was from around 2004 and it came with a Brooks Pro big rivet saddle. I bought it on the assumption that I might sell the Brooks saddle for ~ $100 and then only be in to the bike for $100. The touring frame geometry is very different from my R1000 road frame. The virtual top tube on the T-800 is only like 50 cm which means for me to be fitted to the bike, I would need to run a 14 cm stem and a setback seatpost!