Screw that advice, pull that thing apart
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
And where are the pics of thing at anyway?