Rob, wasn't it your own site that said the 650 bits must be used from tip to toe in order to work properly (650 jugs with 650 crank, pistons, rods, head, etc) due to some difference in the mills? I recall thinking about going the 650 route, but not liking the idea of switching over to a Hy-Vo cam chain (I've not had luck with them in the past).
Also, if you plunk down a 650 head on a 550 block, you'll run into the same issue some 750 owners have when they bore to 836 and put a 750 F head on, thinking they'll benefit from the F's larger valves- the F has a larger valve chamber, and domed pistons to match, but nobody makes 836 F pistons. The combination of K style flat-top pistons with the F domed-chamber head effectively REDUCES the compression due to extra volume. I'd rather have a head that was flow-matched to the engine than one that just happened to have some of the things I wish it had, but also has some of the things I don't want.
Volz, the 750 does have a primary tensioner, but it does take up a lot of space. I don't know of any way you could fit it, or any other tensioner, in that tight 550 case, without having to do some really 'creative' milling on the cases.