From what I understand, this isn't going to progress much at all until he gets back from You-rope this fall, since he won't have much time to work on it.
CJ and I encouraged him to buy it now rather than wait until his return because he'd just missed the 'newbie bike' buying season in Texas. Now that prime riding weather is upon us, one is hard-pressed to find a suitable modern (as in, having CDI and not points, tubeless tires and preferably alloy wheels) small displacement starter bike for less than $1500; if he waited until he came back, what with the projected continued rise in fuel prices they'd be even
more expensive due to their high fuel economy. We managed to score this one for $275, down from the seller's $350 asking price.
I'll let him tell the story of the expedition to examine and retrieve it, though.
Edit: It should be mentioned that the normal local price for a facelift EX500 (like this one) in running condition is about $1500-2500 and increasing at the current time.