My older brother bought a V45 Magna in 1982, the first year they came out. There has been a lot of talk about camshaft wear on these machines. I think with proper maintenance and actually watching the redline, they are very reliable. He still has that bike and it still runs fine. The 1982 through
? or so were shaft driven. Some of the later ones are not shaft drive.
Basically, a shaft driven v four Honda is a very nice bike. The engine is probably the smoothest I have ever ridden. Perfect primary and secondary balance they say. All I know is nothing vibrates on them at all.
I bought an '82 KZ1000 LTD and they were basically neck and neck for street drag racing. Top end was about 120 to 125 mph in overdrive (6th gear). We went to a drag strip that was 1/8th mile or 1000 feet or something. He turned in 8.20 index and I turned in 8.00. First night there he won the event with only one breakout at 8.19 and the other guy broke out more. I think the worst run of the night was 8.22. It looked like it was bending downward in the middle on the 1-2 shift but that was an illusion caused by the shaft jacking the back end of the bike upwards on the shift.
My 1000 would barely pull away on top speed contests. He wrecked it once and broke the tach. Do not run one of these without a tachometer if you are used to inline 4s because they sound like they are turning so slow. The redline is 10,500 I think. When he put the tach back on, we found out that by ear we were routinely shifting at over 12,000 RPM. The engine never had a problem with that though. The only time it ever outran my KZ was while the tach was off and it turned out it would go close to 130 in fifth gear, but you don't want to know how far in the red it is.
My guess is that the reason a lot of these had problems is because people were shifting "by ear" rather than looking at the tach.
That bike was a pig in the corners if you sat on the seat. It would wallow and weave and just get worse and worse. Mind you I am talking about taking corners way too fast when this behavior exhibited itself. Comparatively my KZ was on rails. However, if you basically leaned way forward and almost sat on the tank, it would put more weight on the front tire. The back end would be behind you wobbling all over the place, but you could make it corner at insane speed without regard for what the back end was doing. This did not look pretty to an observer. I never rode it that way, but my brother still does so from time to time.
He always took time to let the engine warm up enough to get the temp guage into the operating zone before riding off. This may have been a key to the long life of this particular engine. If an engine has decent oil pressure and doesn't smoke or make funny sounds, I would say go for it.
My favorite thing about the V45 was coming on the cam and getting that extra rush of acceleration when the tach passed 8k or so, and as I said, the uncanny smoothness of the motor. Least favorite things are the handling when being pushed too hard, and the intermittent hot starting issues. Some have that problem and some don't.