Screw that advice, pull that thing apart
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If nothing else, just to understand whats going on between your legs, Honda speaking.
Or wait a bit... thats cool too, riding is pretty fun i guess, but if you 6 others, have a crack at it.
Whether you do it now or later, this is what i just did to my '75 550:
Honed Cylinders - $40
New Rings - Cant actually remember, dont have receipt on me.
New points / Condensors - $25
CB650 cam - $ 100
New Gaskets - $50
Painted engine - $30
New Plugs (NGK D7EV)
Pod Filters - $10 (Yeah yeah, i know)
It can all be done pretty quick as well, a hard days work will almost have it complete. Apparently i didnt give it a hard days work, too me a bit longer.
But what i did above are options, and you have a rough price guide of what to expect with those ones.
Ripping straight into it may not be necessary, but it is fun and interesting
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And where are the pics of thing at anyway?