Hi, folks, thought I'd comment here. I only went .020" overbore on my 650 engines. This takes them to 83mm bore and 680cc. Our problem is piston rings; we have to have pistons made to take 83mm minimum rings because the 82.5s are all gone. 83mm is Hayabusa, which is a great ring pack and handles high revs very well.
Regarding boring further; there is only enough liner to get another .020" safely. Add that to the headgasket issues (this is an open deck and the fire ring could get really small at big bores), and you can see why I'm studying crankshaft stroke or destroke to fit classes. It's easier (and cheaper) to build rods, than to cut blocks, fit new sleeves, build retainer inserts, and have head gaskets made. When I learn more about rods, I'll put up a post; we need to be able to use the Toyota Paseo rod bearings (Honda bearings are gone), and rods with the bearing notch moved in would work well. Narrower rod bearings, with Diesel 15W-40 oil, will allow some good hard running.
My 500 engines are at stock bore, because the engine is so close to class limit. The 500 has the same thin sleeve issue; Honda made sleeves AND stroked the crank when they made a 750 out of a 500....and it overheated while making 90HP.
The 650 in 500 chassis sounds good. Also, a possible carb setup would be the Mikuni VMs prejetted for 650 Yamaha "kit" (SUDCO is one supplier). This is not terribly expensive, and gets a lot more flow than the CV carbs. Frankly, I'm pretty amazed at how well my flat-slide Mikuni 38s idle, and these are not very expensive carbs (1/3rd the price of Keihins). I can post the final jet numbers, if anyone needs them.
JimL