Not that expensive?!? I just paid $15 for a quart of the stuff (Honda brand) at the local dealer. Now granted - it's enough to do at least 4 forks, but still.....
If you are too cheap to invest $15 in your bike for proper function... Well then...
Maybe spend $15 on a few beers and pee into your forks. ($15 isn't even a full tank of gas anymore.)
I'd be concerned that 5w oil is a bit thin for proper damping action. 5W 30 is essentially 5W unless heated. ATF has anti-foaming agents as well as seal "moisturizers" to help keep their resilience. (Some motor oils do, too.) ATF viscosity seams the behave as 7 wt.
Fork oil has the anti foaming agents, seal "mosturizers" AND you get to select a viscosity that conforms to your ride requirements.
I like something between 10-15W. !5W is great for mostly smooth highways. 10W seems better for bumpy roads, particualarly with a lighter bike like the CB550. For the 750 I prefer 15W.
The synthetic angle is a red herring. The forks and seals don't care how the lube's molecules were made. With synthetics, the size of the molecules are more uniform.
Cheers,