For all you 77-78 550 owners,
I had a few electrical issues and got sick of staring at the crappy copy of the wiring diagram found in the addendum to the shop manual. I have posted a nice clean remake of the diagram here.
As a heads up, on Fuse #2 you will notice Black/Yellow switching over to Brown/Red after the harness. I've seen a few different versions of the diagram. My actual bike has the Black/Yellow running all the way back to the HL on the switch, not Brown/Red but I left the two in case...