I had one when I was 16 (long time ago) and kept it for 3 years. Despite some of the comments here they were not a bad bike for their day.
Yes the ignition timing needed setting on a regular basis, but it could be done in about 5 minutes. The balancer shaft chains were always noisy but never caused a problem and the handling issues came down to needing a decent set of rear shocks, something that was true of pretty much every jap bike of that era and a set of phosphor bronze swing arm bushes instead of the undersized and soft synthetic factory items.
The 2 piece cylinder heads were prone to warping and needed careful assembley and set up with a decent torque wrench. Mine and quite a few others that I knew of were fitted with the later XS500 head. Worthwhile improvement.
I rode mine every day, rain or shine and it never let me down. While I had heaps of fun with the old TX, compared to any modern bike it would have its limitations.
Don't think I would ever call the TX a classic even if they are rare now.
The H1 Kwaka that I had afterwards handled much worse, drank gas like crazy and needed repairs far more often, but because they were mental gained a cult status that the TX500 would never equal.
Given the chance I would love to have a ride on a TX500, but would own another H1.
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