I know it's a 13 year old thread, but thanks. My 550F2 arrived yesterday and the breather hose from the head wasn't connected to anything. The thread has solved the problem for me as to where is should connect to.
I have attached a copy of an edition of IMO the world's best motormagazine
Das Motorrad in which they have tested the CB550F2, (#18 1977). Their testteam ran into an issue. The CB550F's performance proved not as good as the CB500K2-G, they had tested the year before (see p8). In cooperation with Honda mecs they have diagnosed the cause: the OEM airfilter element had become humid and fouled by the crankcase breather recircling device, reducing the air intake. They 'cured' it by fitting a new airfilter element and having the oillevel not higher than maximum halfway the upper and lower mark on the oil dipstick. Where I live, dealers and owners in those years just disconnected the breather tube altogether and plugged the hole. In Europe we didn't have any rules on recircling for motorcycles.