Not really a custom frame at all, just a custom seat hoop/subframe. He missed the most important part of the bike: the engine hoop. Thats where all the structural weaknesses are.
Most of the mods done by Tews (and many others) are in effect the same as this guy from DTT. Only real difference is he cut and reversed the uprights to tie in differently to the backbone. Suits his build, but tons of work for little gain.
Im all for cutting a frame up (trust me, I own more saw blades and TIG wire than socks) but only for a distinct purpose. If I were to drop a Stage 4 650 motor into a 500/550 frame, I'd be bracing the ever-loving dogpee out of it. Even significant HP changes on my 500 will see some added welds and a stiffener. But a custom frame, not with it being a track bike. Not enough HP to warrant it. Besides, I'd rather spend $1800-$3000 on go fast parts than on a frame over-engineered for the street.
CB750 - I do like your opinion. But I think cb550 deserves a little patience with his question. Perhaps not perfectly phrased, but well-intentioned I think.
Sorry for the jack, Tews.