Well, given that I'm a vintage Jap bike nut, I never met one I didn't like...
That being said, the 500T's were undesirable in just about every way.
They were heavy, slow, and they vibrated much more than the 450 it superceded. They had lousy brakes, and were very sedately styled, not to say boring...
They have the weird-alice torsion valve springs, rather than normal coil springs, although the 450 had these too and nobody else seems to mind.
About their only claim to fame at all was they were supposed to have had a very comfortable seat, which came from the OEM in brown, rather than black.
They came in dead last in every catagory in Cycle magazine's famous 1975 middleweight shootout, against Honda's own 550 four, Suzuki's GT550 and all the rest...
However, if you get it, any clutch problem it has should be very easy to fix, as nothing about it is rocket science, and parts are available enough.
Good luck with it, however you decide...
Kirk
Okay, let's think about this a minute. The guy wants to turn this 500T into a Cafe. That ought to take care of the weight, styling and the seat for sure. The brakes, if they're so bad, can be taken care of. Now, I never rode a 500T so I can't say anything about the "vibration". I have ridden 450s though and didn't notice any vibration to speak of. I know that grumburg had one of the 500Ts and I Believe CBGBs still does. Ask them what their thoughts are. I'm just saying that the bike deserves an even break. It's gonna be modified anyway. I'm a sucker for the CB77 305 Super Hawks and some wouldn't have one on a bet. I also like the 450s and again, some wouldn't have one. Seems to me that, if the bike is going to be Cafe'd anyway, it can only come out better. 
Okay, I kinda went over my 2-cents worth by about $5 worth. 
Sorry about that. 
Bill, all -
The 500 is just a 450, plain and simple. 90% of the parts are the same.
They screwed up a perfectly good carb by adding useless crap, went to tamer cams, and used a ridiculous exhaust system - all those things make it less "sporty" than its older brother. Despite the increase in displacement, it doesn't translate to increased performance at all.
The brakes are no worse than any of the Hondas of the era.
And undeniably unattractive.
And yes, a 350/450/500 will seem to vibrate, compared to
any of the 4-cylinder Hondas of the era. So if you were raised on the Fours, it's a different kind of bike in that context.
I wouldn't buy it just because it's a 500T (and certainly not to restore), but because it's a good 450-type platform, like Bill says. All the normal resources are available for radical engine mods, as well as frame/running gear stuff.
I guarantee, a totally freaked out Hansen-type 450, at about 325 pounds and close to 60 hp will move out smartly.
Or if bobbers are your thing, they adapt well to that - it's a handsome engine that works in any role.
The only real issue is that your critical 500 parts (crank, pistons, etc.) may be very hard to find - 450 parts are generally available.
bill2
