Went and looked at the bike today - title was there and in order; had some trouble finding the key, but he did manage to scrounge that up.

Does anyone know anything about those flames? Were those a dealer addition? Or did someone just add those custom after purchase? I was surprised as the side covers had a matching pattern and it seemed almost like a factory job??

The engine on the bike is in pretty incredible shape - still very shiny and such beneath the grime. I have a 1977 CB550 w 12,000 miles and the engine and frame on the 1972 cb500 looks much, much better (and the odometer reads 19,000+).
The original pipes are on there as well - and in incredible shape - no rust at all, no dings, very nice.

Bike kicks over very easily - clutch pulls strong and even - seemed to shift into and out of gear fine.
There is no airbox - he indicated that it had pods when he bought it. But the choke on the carbs were closed, and they looked surprisingly clean.
So, I offered $250 and we settled on $300. I am going to pick it up on Monday, so will post some pics and probably start a thread if anyone's interested in following the progress.
I'm feeling optimistic that this may be a relatively simple process to breath some life into it - the bike has obviously been stored well - so hopefully battery, plugs, oil, etc should get it fired up.
Overall it's in pretty incredible shape for a 40-year old motorcycle.
I'm not exactly sure what I'm going to do with it - probably get it running and then sell it - just couldn't stand seeing that piece of history end up getting parted out or left outside. PO was obviously sick of having sh*& stacked around it in his one-car garage (for 24 years, lol).