http://www.cb450stuff.com/forkoil/K5_Fork_diagram.jpg
http://images.cmsnl.com/img/partslists/front-fork-cb450sc-nighthawk-450-83-us_bighu0187f9c08_2b58.gif
there's a couple different variations, your best bet is to get a manual specific to your bike and work thru that.
My cb500t forks were like yours though...
I've heard of guys doing a cartidge conversion but haven't seen it with my own eyes so I can't answer. My issue would be the weight, since these are essentially 40 year old forks based on 80 year old technology....they are chubby by modern standards.
If you're headed to a wrecker anyway, look into mid 90's BMW K95 forks. They're 40mm Showas and they weigh about 2/3s what the stock front end does. I got mine with triples and the oem fork brace. They are so much better than the original, it's almost hard to even compare. This fork was also on GSXR and at least one model FZR of the same era. They're very fine forks with tons of aftermarket. As well, they are far more rigid than the honda pogos. I made shims for the axle mounts since the BMW axle is larger in diameter, but they'll work well. From there it'll be the same progression to make brackets to suit a 320mm disc (or two)