People keep telling me the 500 has box problems but in 30 years i only seen 2.
I had not known there was an issue either. When my CB500 [this was in 1972] gearbox locked up the 3rd time, I took it to the dealer, Honda Village in Niagara Falls, NY. The salesman I bought it from, "Whitey", said that the 71's had had a problem with the gearbox but that the 72's (which he had sold me) had the upgraded internals and my problem wasn't covered under their "recall". IIRC, it was just a technical service bulletin, and detailed replacing "the shift drum and sliding forks" (my memory on this may be off a bit) under warranty.
I was really pissed that they wouldn't fix it (less than 500 miles) and soon sold it and bought a Triumph. But after about a year, I got a letter from a lawyer representing a class-action lawsuit against American Honda Motor Co for selling left-over [unsold] 1971 motorcycles as 1972 models. AHMC was issuing dealers new Manufacturers Statement of Origin documents and the dealers were selling the bikes as brand new model year 72's. My VIN was in the list of affected cycles. (The rest is a whole separate story, worthy of a magazine article - AHMC eventually settled out of court, after news exposure).
But as it turned out, my bike was indeed a leftover 71 sold to me as a 72...with the un-upgraded gearbox...The dealership went out of business soon after; the salesman died (so my friends told me); and I eventually received a settlement check from AHMC for the difference between the sale value of a 71 and a 72...
Go figure...
But I had seen the CB500's in a showroom on Okinawa in 71 (I was stationed there a year), especially the candy-apple brown ones, and that's what I wanted...
Really turned me off on Honda, though...especially AHMC...
/rant