Nice bike. I picked a weathered first year '78 from my son, who wasn't getting time to work on it. It needs some carb work. Both my son and then I considered going the cafe route, but I'm thinking of keeping it as an original survivor.
However, yours is a C (Custom) model and is not quite a true "Plastic Maggot". I think that name was reserved for the original CX500, which had an unusual plastic headlight nacelle and a plastic rear fender. That is one reason why I am hesitant to chop mine up.
One thing not stock is the exhaust system. The old mufflers were rusted out and where they connect to the "goat bladder" crossover chamber is falling apart. The whole thing was replaced with a MAC 2 into 1 system. That jettisoned about 30 lbs of ugliness.
http://i1321.photobucket.com/albums/u541/bsa75ph/IMG_0712_zpsquff6tfi.jpg 
Another pic.
http://i1321.photobucket.com/albums/u541/bsa75ph/IMG_0713_zpslspmguw3.jpg