Sorry for the thread revival, but I've got an extremely similar problem with the exact same bike ('73 CB500). I've already: replaced the petcock (with a brand new one), tried riding with the gas tank open (previous owner POR'ed the tank), checked/reset valve lash, replaced plugs, and checked head pipe temps (yep they're all hot!
). I have not yet: replaced condensers/points (the bike sat for a couple years after receiving an ignition tuneup, so they are as new), or checked ignition timing (need a light, really should get one).
Overall it runs really, really well - especially after resetting the valve lash, there's a lot less upper-end noise now - but it dies out of nowhere. I've narrowed it down to being parked on the side stand for any period of time with a warm engine...if I park it on the center stand it'll run for miles, but leave it on the side stand (even with the petcock OFF) and it will go for about 5-10 minutes and die. I usually stand there with the bike upright for about 3 minutes (long enough to collect my thoughts and burn a smoke) and it will fire up and get me home. What gives? I want the bike to be reliable, but I'm already getting a little annoyed at how I keep throwing money at the same problem.