I've got some high-RPM, high gear (4th and 5th) clutch slippage problems on a basically stock K2 (pod air filters and thats it). I had the clutch apart about a month ago and checked everything with a micrometer, all parts mic'ed like they were new, the fiber discs still had the marks from the surfacing machine on them (probably don't now though
) The real problem is that I'm not sure if the clutch components are Honda, Barnett, APE or what. The oil passages in the fiber plates are straight-cut, not slashed and the steels are peened or dimpled, whatever you want to call it. It clunks into first (roll it ahead while snicking into first makes it alot better though) its hard to shift, like its sticky, occasionally find neutral while shifting, never when you WANT to find neutral (its hard to believe how fast those little fours hit 10,000
) BUT it only takes light pressure to get the clutch to release. Everything is adjusted by the book, if the books are right. I'm running dinosaur oil (Valvoline 20/50 4 stroke motorcycle) It seems like the clutch is releasing waaaaay early in the stroke, 1/2 inch free play and pull it another 1/2 inch and its fully released.
I'm out of ideas (short of putting stiffer springs in it or spring spacers) so I thought I better ask the experts 
Coyote:
Did you ever get this worked out?
The clutch action you're describing is what we used to call the "in-out box" action, after early Buick no-clutch transmissions: you stuck it in gear with a CLUNK and you were moving, no slip!
The holes in the clutch hubs on the K0-K4 CB750 were too small, sometimes poorly drilled or not all the way through, or could get clogged up with grit, especially Barnett plate grit, or "sat in the shed 3 winters, no oil change" grit. This then makes the hub starve the plates for oil, after which they burn, and quickly. Typically, the slippage repeated itself soon after the plates were replaced: most owners did not know to clean out the holes during plate changes. So, they'd install a new clutch, and it would burn right out.
The first thing to do is find my post (FAQ: Thought of Hondaman, somewhere in there) about "Hate that In-Out box of a clutch?" and do those clutch hub mods to your K2. It might be too late for the existing plates, but surely don't put new plates in while the problem exists, or it will be expensive!
Then, get new clutch plates. While it's apart, check the steel ones for burned appearance in spots around their faces (those are bad, for sure) and lay them against some flat plate glass and try to slide feeler gauges under the plate around the edges, looking for raised warped spots. The warpage must be less than .007" or else they will drag, causing false neutrals, missed or jump-out shift (especially in 2-3 gears) and hard-to-find neutral at very low speeds.