GOT IT!!!
I picked up a parts bike for it the same day. I replaced the chain adjusters because they were bent. Funny thing was the one's from my 750 were too small for the 550.
Taking off and putting back the rear tire was a lot easier then I thought it would be. I adjusted the chain so there was just under an inch of play, and now there seems to be a little more then an inch after riding it 50 miles or so. Is that normal? I assume I just tighten it a bit more.
Also the gears seem to be a bit stiff and and putting into neutral was hard. I would keep jumping over it and the bike made a funny noise like I was shifting it during the last couple miles. I pulled over when I heard it, but I didn't see anything. Then the rest of the ride home was fine.
This was the first ride for me. I left at around 12am and got home at 3am. I did a lot of stopping to adjust this or that. And as ugly as that seat is, it's damn comfortable!
CB550 in my garage.
Parts bike. I can't wait to refinish the tank and side covers from the parts bike. The tank does not have a lock on it!