The disease spreads

If you are like me the only good reason to enjoy this time of year is that since there are no leaves left on the trees, it makes back-yard hunting easier. So today while on-duty at the FD I was doing my usual thing, returning from calls on every possible side road in town peering into backyards, when I spotted an old bike under a deck. There were cars in the driveway so I knocked on the door. I will cut to the end. The guy said "yeah I was going to take it to the dump but if you want it you are welcome to it". Out back I went to find a fairly complete but really rusty CB77 305 Superhawk. I mean really rusty, no gas cap, open carbs, no chrome left on the rims, the usual stuff you find on a bike that has been left outside for 30 or so years. But, I have seen (and even restored) worse. I was curious why the kickstart lever was missing and then noticed it had these really cool aftermarket aluminum rearsets and that was it, the wheels (say brain) stared turning.
So is there any reason I have yet to see a CB or CL77 on the track? Why not in P1 350 GP? Are they dogs, break easy etc?? They cannot be too rare or valuable, or maybe there are some Superhawks and I just have not noticed yet? Even if the 305's are not fast it seems they would sure make an interesting race bike.
The last thing I need is another project but I would welcome your thoughts before I jump in with both feet!!
Thanks in advance for your thoughts.
Kevin

KCampbellNH