I had the same issue with our '78 550. The terminals in the switch base had come loose, and even though I peened the copper rivets to tighten them back up, they corroded underneath.
When you turn on the key and get nothing, try wiggling the electrical connector and see if the juice comes back on. (If you do this at night, you might even see blue flashes through the white plastic switch cover, like I did!). If this gets the power back, order a new switch base and cover from the Honda dealer. They make them aftermarket, but some folks have complained about how they fit. Honda made improvements to the switch assembly (I outlined them with pictures in another post) to beef up the contacts, and they now solder the rivetted connections prone to loosening and corrosion. The parts cost about $35.00 total. I replaced them and have not had any problems since. It also fixed the 1.5 volt drop I got through the switch....
If you try it and confirm you do need the switch, I can dig around for the part numbers.