My project CB175 has the equalization tube, and it really is a pain. As a project, the tank comes on & off reguarly, so I added two little fuel stop valves (meant for a lawnmower...). I haven't even tied them together yet, because it's not in running condition. They do interfere with the tank removal, I have to disconnect the tank, slide it forward until the frame is a bit smaller and then pull it off. But it sure beats draining it each time.
I'm glad the 550 doesn't have one. That said, I thought the 550 tank was fully equalized, good to know otherwise - even if I never use the reserve.