I know you didn't want to hear from me. But, here is my take on the cover issue, anyway.
For the stock bike, it is pretty rain resistant The F model 550s collect water in the keyswitch. Shoot some WD-40 in there. And, make sure the fuel tank filler well drain is clear and flowing. Also, make sure you have that little rubber cap on the caliper bleed nipple to keep water out of there.
A breatheable cover shouldn't hurt anything, as long as it doesn't block airflow near the bottom so air circulation can dry things out as soon as possible. A cover can also keep the chain from being rain washed and the bulk of the rain water from running down spokes and inside the rim (Rust).
The stock Honda exhaust also has a drain for water entering the exhaust. But a cover would minimize that, too. One downside of a cover is that when it flaps about in the wind, any trapped dust or dirt abrades away finishes.
I think I would definitely want a cover on bikes with pod filters and exhaust systems where rain can enter without a built in drain at the low point of the system.
Don't underestimate the destructive power of the sun, though. While it usually means a dry bike, upholstery, paint, rubber and plastic, show their age much more rapidly with sun exposure. A cover extends the good looks of the bike parked in sunlight, too. It's the price we pay for having many good riding days.
Cheers,