I've been tossing this around for quite a while, even got to the stage where I was going to sell the old girl and get something more user friendly on the open road.
Anyhow after long discussions with my mate at work who has a shed full of old Indian bikes I have decided to up the front sprocket from a 16 to a 17.
He said that when they bore the Indian out from 500cc to 600cc they go up a tooth and from 600cc to 700cc two teeth but those old engines lug like crazy diesels.

This may not be earth shattering news (actually we could do with a little less of the earth shattering about now) but it's something that has bugged me and put me off riding my bike many times.
I believe the Police had these bikes set-up for quick short sprint pursuits and not long lazy days on the highway.
I saw that one of our forum members (thanks MJSTONE for the tip) purchased a new sprocket from JT Sprockets via Ebay so had a look around their site and they produce a 17 tooth one for the 79 CB650.
With our horrible exchange rate the reasonably priced US$17 cog converts to NZ$24.59 and once you add P&P it's NZ$68.39 but if it helps me fall in love with Blondie again it will be worth it.

Not sure how long I gotta wait for delivery but this could be worth waiting for.