I've tooled around in the neighborhood on the 500. It needs new tires and the suspension feels really squishy. The rear tire is a 140 for crying out loud. As compared to my 2014 KX450F it feels like a tank.... so I don't feel too secure taking it out on a track. The bike is an absolute monster though in terms of power. The top end is new and the bike runs great. I cleaned the carb and got the jetting closer to stock values for the PJ and now it fires up first kick when it's above 60 out. Below that and I have to trick it into being a rich condition by leaning it over but it'll usually fire off after 5 or so kicks.
For my plans, I plan to pull the motor out and then part out the CR500 chassis or sell it as complete. Honestly, it's in great shape all things considered.
I've added a pic below.
