Stupid question deserves a stupid answer.

So I'm pretty sure the timing on my CB500T is off, right side seems retarded. I'm getting a lot of pinging in the right exhaust and it's backfired once or twice while kicking it over after it's recently been ridden. Now for the stupid question. In order to crank the stator to adjust the points gap/adjust the timing I have to pull off the stator cover. Now, the shop manual says to do this adjustment while the engine is hot/running, however as soon as I go to pull the stator cover oil starts coming out of the bolt holes. Am I a total idiot for thinking that I'm doing something wrong here?

I'm not familiar with the 500T but if its like the 350/360T you can either lean the bike over away from the stator side while you do this, or you can cut an old stator cover with a hole so that you can see in there with your timing light.
Or you can just loose a little oil.

Again i do not know if the 500T is the same, so proceed with caution 8)

Pull the cover off while the bike is NOT running first, whatever you do. Don't need to mess around while the stator is spinning.

You can't adjust the points gap while the engine is running - you do that with a feeler gauge, 12v test light while the engine is not running.

First thing though is adjust timing chain tensioner. Then timing (static, not running) and valve tappet clearance (valve lash). If the bike is running, then you can invest in a strobe timing light and fine tune it.

BTW, I just glanced through the 500T Honda Service Manual and couldn't see anything about it saying to do this while hot / running.

https://docs.google.com/uc?id=0B8RLEMngUB63REZIdjh3R1JiUmc&export=download

Thanks for the quick responses guys. I assumed I might just lose a bit of oil, but didn't want to pull it off and have a mess all over my driveway...

As far as adjusting the timing chain tensioner, I'll get on that first. Gonna have to pull the valve covers at some point, may as well do it today while I have the time. Fingers crossed the gaskets are decent enough to be reused, but considering the general condition of the bike I'm going to say I should just order a set and call it a day.

This is what I was basing my knowledge on Tim.

I have a 74 cb450, same motor pretty much.. And yeah haha definitely can't reset it with it running or hot. Its not that hard. Once you get everything else right pop the covers and grab you test light and a large flathead screwdriver. There are tabs on the points plate you twist the screwdriver on to adjust them and on the actual engine to adjust the plate.

So according to the manual, you set the timing with a light with the engine running at 1,100 RPM but you definitely can't set it that way? I'm not talking about the points gap, I know that is set with the engine off. I'm talking about the actual timing.

Gap effects timing. It's intended to adjust dwell, but it also adjusts timing.

If one cylinder is correct, don't mess with rotating the plate. Just adjust the set of points to the maladjusted side.

Turn the bike off.

Set it onto the CENTER STAND.

Set a drip pan and some newspaper below the stator cover.

Remove the cover.

Any oil that drips out while it's LEVEL is excess anyway ;D

Use carb cleaner to clean the alternator rotor (where the timing marks are) so there is no oil residue

Take a Sharpie and fill in the timing marks. Only fill in the F's and the two unmarked lines on each side. Don't bother marking the T and LT marks, as that will tend to make things harder to read at a glance.

Connect your timing light to the spark plug wire of the cylinder you're testing.

Start the bike. Some oil might spray (a very fine mist) from the rotor

Observe the timing marks at idle.

If off, shut off the bike and adjust while off using a light or continuity checker.
You do this by rotating manually and seeing where the light indicates open points, and use that as a reference of how far to go advance or retard.

Tighten everything and check static once more.

Start the bike and repeat.

Once idle is set well, rev to about 5,000rpm and the indicator should be between the two unmarked dashes on the rotor for its respective cylinder.

Don't touch anything while it's running.

Redliner, I meant to say thanks the other day when you posted that. Unfortunately I'm having some new issues that I believe are being caused by the battery which is... dead. Until I get my replacement (tuesday) I won't be able to check/adjust the timing to see if the right cyl is actually retarded. Thanks again for all the help, makes me feel a lot less overwhelmed!

Be sure you take care with your new battery. Read through the directions carefully and be certain your charger is no more than 1.5amps. The first charge is important for a long lasting battery and takes patience. Usually about 8 hours of charging, sitting, and charging again but it's important.

Ugh. Damn thing won't even idle low enough to get a proper test with a timing gun. Points gap seems fine, .03mm. Time to get a static light I guess...

Search these forums. There is a way to simply use a 12v lightbulb and the battery in your bike. If you have a multimeter, it likely has a continuity buzzer.

you can also use a .001" feeler gauge for static timing ,at the rotation where the points let go of the gauge
you can also use a rolling paper but it is not recomended for used points as the chance of getting a lil tiny piece of isulatin paper stuck in there is real
when done with this method,of course it will be slightly retarded, but should fire up just fine,and run well enough to set full advance timing with the strobe light
and full advance timing is all that matters

Welp, realized after pulling the stator cover that my oil is probably 50% gas. Thing literally lost 1/2 a quart or more just from taking the cover off and it was thin and stunk of fuel. I'm starting to wonder if buying a bike sight unseen was a good idea....

Was the petcock off? If you accidentally left it on it could've leaked through the carbs. If that is what happened then in turn your floats need to be adjusted.

Petcock has been on no longer than ~10 minutes after having ridden the bike. Floats were set to factory spec a few weeks ago. My guess it's valves, fingers crossed it's not something worse. Will keep updating this as I go along.

When I worked on my CB450 Cafe I had the pamco ignition on board which made static timing damn near impossible so I spent a day on the lathe creating a peek-a-boo stator cover to allow for a no mess dynamic timing process.

That is some impressive work you've done there... I might have to steal this idea.

Be my guest

Looks like the timing port for the fly wheel on an Airhead.... Would love the convenience of this... Nothing beats the sound of perfect timing on a Honda twin when you downshift.