well, now we all know why nobody runs CB77's pistons in 550's!
Look like the builder actually did the right thing, checked valve piston clerance and machined the pockets accordingly....
And that's with a standard cam? With anything hotter he might have gone through the piston while machining it.
Interesting side note, went to visit today a club memeber who's a well known tuner here, his CB500 four racer bike won third place in the italian championship in 2007 behind a TZ350 and a very special honda 500 twin.
in any case, he lent me a modified XL125 piston like he uses in his racers and it looks like this (next to the modified stock piston I used in the first season). The original XL 125 piston doesn't have a very high crown but creates too high a CR and he told me that he had to remove quite a lot of material from the dome (and machine deeper pockets of course).
you can see from the pic (03.jpg is stock XL) that the he had to machine into the full curved dome a step (04.jpg), he said that otherwise you really risk touching the head.
So basically, know you know, it's tight up there in those 500-550's and before you remove material form the piston, check that you have enough thickness to do it!
TG