I finally pulled the trigger and bought my first bike. I've been searching online and locally for about a year now, and came across this 1976 550 on craigslist in St. Helens, OR. The guy I bought it from owned it for about 15 years and rode it as his daily commuter in the summer. I drove the 400 miles to pick it up and trailer it home about 2 weeks ago.
So far all I've done is replace the spark plugs, spark plug wires, change the oil, and it gave it a thorough wash to get familiar with the entire bike. The bike has about 21,000 miles on the original motor, and runs and drives great.
The plan is to repaint the frame gloss black and the tank, covers, and seat cowl either charcoal or beige. I'm hoping to either find some vintage badges for the gas tank or some replica decals and just clear coat over them. I'll be changing the handle bars because I'm not a fan of drag bars at all. I'm going to modify the seat, I hate these seats with the button fasteners and the flat and square seat pad, just doesn't flow with the lines of the rest of the bike. More progress to come...