It shifts easily and well while riding, even as it gets hot. I notice it mostly when I'm coming to a stop.
That's not info I was seeking.
Get engine hot, stop it and then try shifting through the gears. Does it make the first shift easily? Or, is it difficult to get the shifter to move?
Yeah, I soaked the frictions, but they are pretty old and are some weird aftermarket configuration. I measured the springs and they're within spec according to the Clymer, but I should probably just pick up a new set as well. David Silver seems like has some nice looking ones.
Weak springs may make it slip under full power/loading. But, they don't cause clutch drag.
Did you check the steels and discs for flatness warpage? Was there discoloration on the steels' surfaces?
A dragging clutch means that the plates aren't fully disengaging?
That's correct.
Because of their proximity there can be some fluid coupling (oil between the steels and frictions). This is usually not enough to cause a shift problem. But, if some of the plates still touch, power will be transferred plate to plate.
The transfer of power preloads the gear train, making the shift dogs difficult to move out of their slots. With no preload, the shifter should have no hinderance for moving the dogs into or out of their slots.
Clutch drag is hard on the shift dogs (they can round off), shift forks, and shift fork slots. With enough wear, the trans will take itself out of gear when under power. The only thing holding the dogs in place are the shift forks. These fit into a slot, which can wear wider as well. At first, shifting becomes "sloppy". Later, it jumps out of gear, and/or becomes difficult to get all the way into gear.
You can mitigate some of the wear by anticipating what gear you will use next, and shifting while the bike is in motion and everything inside is still turning. If coming to a stop, down shift and get it into 1st or neutral before completing the stop. (There's a good argument for safety anticipating next gear selection too, so that you can use power as an avoidance procedure alternative to braking.)
If the bike jumps and clunks badly when selecting a gear from neutral, this is another sign of a dragging clutch.
A dragging clutch can also be a product of improper adjustment. It's not just full engagement to adjust, but, also complete disengagement. I've noted some who focus on the clutch lever position. This is supposed to be done AFTER the clutch engagement/disengagement extremes are adjusted. I admit, I am more familiar with the Cb550 clutch mechanism than the Cb500. But, I have gotten some sage advice about the CB500 from a couple of long time Honda mechanic from that era, who did a lot of warranty repair work on them before the improved CB550 come about.