Over the summer I had to replace the front brake line for my 77 550. It took a lot of searching and editing through the confusion to know which parts to order. I called the good tech guy at Dennis Kirk, and he helped me put together a list of parts to use.
I added a post to my blog, which is linked here:
http://www.jeff-cook.com/2008/11/brake-line-for-the-cb550/Mods, feel free to copy the posting as a whole and/or move it wherever you see fit. All I ask is that in addition, you keep the link to my site in there.
Thanks and I hope this helps,
Jeff