Finally after weeks of waiting I got my bike back. Well as of now she no longer runs... battery seems to be low on fluid and has possible erosion spots on it, so I'm buying a new battery before continuing on.
The clutch arm seems to be stuck in place, but not rusted. Either way I'm going to spray some WD-40 on it and try to get it moving again.
Speaking of the clutch, seems like I need a special socket to take out of the clutch... anyone around Grand Rapids, MI got one of these sockets laying around I can borrow? The Honda part number on it is (07716-0020202).
When I turned the bike on (the battery could get up to about 40% give or take life before it stopped accepting me charging it) the rear turn signals didn't come on and the brake light was very dim. When I pressed the start button it made a single thump and didn't make any of the familiar starter noises for me. I hope thats just part of a low/bad battery.
Once I get access to a camera I'm going to start taking some photographic evidence.
As far as plans for the project, I want to keep it looking stock, but not working stock. I want to clean it up, put a new exhaust on it, make new side panels since they are impossible to find on ebay, paint, give it EFI, and build a new gauge set from scratch including new sensors (fuel level, engine oil temp, air/fuel ratio) and build a trip computer into it as well. It's pretty ambitious considering I'm not really used to working with engines. I'm more of a computer and robotics kind of guy.
I'll post an update after I get and install the new battery.