Although I'm a fan of the 550, for what you are talking about , I think that the 1980 or '81 650 would be a better choice. Not the' 79, it's bulky. The 650 is more nimble than the 550.
The frame is similar, has the same cradle as the 550 but a breakaway frame....unbolt the lower side of the frame and it's engine is in and out without any of the BS like laying the engine on it's side and weaseling the frame over top of it to get it back in.
Both the front and rear suspension ( including swing arm ) are a bit beefier but gentle. the bike handles smoothly and is predictable.....no sudden jolts will rattle you or chatter the rear wheel much. The stock rear shocks are better than the 550 and even the 750, the front suspension may have a little more travel it seems and the forks have oil and a few lbs. air pressure too. swing arm is about an inch and a half longer than the 550. Longer travel,better shocks , nicer ride.
The seat, not flat like the 500/ 550 where if you regularly ride 2 up and brake hard you find your second rider sliding up the seat into you effectively crushing your balls into the tank. the '78 version seats not much better, second rider's weight is higher when t comes forward. '79 650 came with that style seat, but the '80 and up style change included a more comfy modern seat that seems nicer for both riders.
650 engine leaves the 550 in the dust on the road. built very similar, but has hemi head design, larger diameter exhaust and upgraded diaphragm type carbs that feel smoother than PD's but still as snotty going up the tach. and a smooth transmission, and larger chain than the 550. Has early electronic ignition.
Brakes, Rear brakes the same as the 550 /750 but you can get better shoes. front brake on the650 spoke wheels and 1980 comstar wheels are single disc, I think the '81 came out with dual front disc on comstar only. comstars can take tubeless tires and rear tire can be wider than the 550 due to the length of the swing arm and the inner tire arc is farther away from the axle.
Blacksheep of the Honda fours usually less expensive to purchase, parts availability can be hit or miss depending.
that's the good, here's the bad.
Comes with the worst stock handlebars in the world and should be removed immediately upon purchase and left with the PO so you have to get a decent set of bars....it's for your own safety, isn't but should be mandatory. and luckily most clubman cafe bars don't fit. Should replace the angled front brake res. with a level res.for safety and it won't drool brake fluid on the tank.
Looks like hell if flat black and normally takes more effort to make a decent looking cafe style due to the angle of the tank and seat,
if that's what you want to do.
Known to have charging issues more so than 550.
That's my 2 cents.