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"Drill out the stakes" they said. "Make your own spanner/ bearing retainer tool" they said. "It's a piece of cake" they said.
Well I did all that and my bearing retainer hasn't budged. I have a 1971 Honda CB 500 K1 and the one thing I dislike about the bike is the bearing retainer because the tool used to remove it is discontinued, which leads me to question one (below). Pictured is my attempt to drill out the stakes (dimples) to unlock the threads and remove the retainer with my home made tool. I did drill on the hub first not realizing what I was doing. I then drilled out the stakes on the bearing retainer. Everyone said after drilling out the locking stakes the bearing retainer should come right out. That hasn't been the case so far. Please help with any of the below questions.
Important questions I need answered, please:
1) Does motion pro make a bearing retainer wrench for my model bike? Or is there any company that makes one?
http://www.motionpro.com/motorcycle/search/overview/bearing+retainer/
2) Did I mess up beyond repair/ should I just get a new hub?
3) Do I need to drill deeper?
4) I've read (on forums ) that the 500 is a reverse thread. Is that true?
Just to be sure, because in your pic I can not see it, you are drilling the stakes at the threads not the holes for the tool attachment, correct? There should be one or two pin punch "stakes" right where the thread is along where I've put the green arrow.
I've totally been drilling where the holes are for the tool. I was under the impression those where the stakes because they have little dimples in them. Wow, let me go back and look.
Ok so I understand what you're saying. But I don't see any markings that would indicate where I should start drilling. Should it be obvious? Or do I just have at it? 1 hole 2 holes?
Been a while since I've done mine, but mine was staked inside the holes, and not around the perimeter as mentioned by the other poster. I would commence to turning right if I were you.
Some times, when they are replaced, guys hold them with lock-tite instead of being staked... If it has them, it will be a pin punch mark right at the threads, maybe two. like this close-up
No, I don't have an air hammer. I was actually thinking about the lock tight scenario. They looked like they had been worked on before. How would you get lock tight off? (googling now).
Lightly heat the surrounding area with a propane torch.
... and you saw where michael_brown said it was left handed thread, correct?
...when I tweeked your pic I saw it has an arrow on it confirming this.
The last CB550 I had also had no stake marks, so it's not unusual. Just do what Hoosier Daddy said, apply light heat and remember it's reverse thread as others stated. It may help to have a second person there to hold the wheel or each take a side of your tool as well. Just a thought. Goodluck!
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Oh now that would piss me right the hell off!! 
