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Probably one of my all time favorite bikes. I gotta see if I can get one someday! I'm embarrassed to say I never rode one.
They had a FT500 in 1982 and 1983 which had a single 500cc engine, but in 1984 and 1985 it was the VT500 and had one of Honda's first 52 degree V-twin engines.
The VT500 ASCOT was only built for two years. I'm still looking to get my hands on a 1984 model eventually.