Sorry, but there's something wrong with your 550, or with your riding, if it wont cruise at 80+ all day long without a problem. Are you short-shifting it all the time? The bike doesn't even make any power at all below 4000RPM. Headshake also indicates a problem. Perhaps your steering head bearings are maladjusted, fork oil all leaked out, or your fork tubes bent or something? I replaced the crappy, worn-out stock rear shocks with Koni's and the thing handles like it is on rails. Not quite as good as a modern sportbike, but definitely acceptable, and way better than most cruisers.
Oh, I forgot about one real shortcoming of all 1970's bikes: the brakes pretty much suck. There are various ways to improve them, but they fall short of modern bikes by a longshot.
I agree about wanting another gear with my 550, though. Of course, when you are cruising around at 80+mph you do feel like the engine is revving a little bit much. You get used to it, though.