The book says to set the idle at 1000 when at full operating temperature. (I use 1100 for these old engines with the modern fuels available)
When the engine is cold, the fuel doesn't atomize well, and the engine is inefficient. Thus, the idle position for the slides set for warm operation at 1000 RPM, will be in the 500 RPM -700 RPM range when the engine is cold. And, it is unusual to get a 550 to idle reliably in this range at any temperature.
To achieve 1000 RPM idle at any choke setting when cold, you have to bump the slides up, either with the idle stop screw or the twist grip.
If you use the twist grip, you don't have to futz with the idle stop screw later in the warm up cycle to get the idle speed back down. Once I learned how reliable the CB550 is to drive on partial choke when cold, I eliminated any stationary warm up in the commute routine, and very seldom need to readjust the idle stop setting. Saves on gas, too. Zero MPG is certainly worse than some MPG. I also found that the warm up was faster with the engine making more power (moving itself and me on side streets) than simply turning itself over at the crank. By the time I reached a freeway, the engine was warm enough to not need any choke and able to produce cruise power and full power acceleration.
It's a pretty sweet, well mannered street bike, really. But, it does take more operator prowess than the modern autos with computer controlled everything.
Cheers,