Hi, I once had a cb550 chop project, never put it on the road, wasn't my welding on the frame and found one too many problems to truly belive the welding was really up to it - like it wasn't streight. I do vaugely plan to build one up in the future but after reading up on the rules will not be bothering with a doner bike but will be doing a scratch built frame and msva instead. I still have a few bits like the 4 into1 slash cut exhaust and a rear wheel re laced with a 15 inch custom rim floating around somplace. I built mine up in a caravan - no shed back then, then found it was too long to get out the door, but the caravan was so rotten I rode it through the front wall instead. There are some nice cb550 based customs out there, the engines do look good in that kind of bike. Mine was frankly rubbish and no photos exist thankfully.
If I ever get around to building one I'd be tempted to build a hardtail with a sidecar with little or no suspension to go with it.