Question 2: You can remove it - nothing will move. There are many other points of connection, and also that is a thru-rod that is intended for accessory installation like the crash bars so it actually doesn't bear much of the engine load. Remove away!
Bonkers... I'm selling my '75 GL1000 too: 1975 Honda GL1000 for sale by owner - Mission, BC - craigslist
Yours is really nice and it surprises me that these things don't sell for more. But, as I tell my son - things are only worth what someone will pay for them.
Just thought I'd chime in...
I'm selling my old dear friend, a '75 GL1000. I've had it for around 15 years now and have done a "get it running" resto, and the latest, heads off and "get it right" rebuild. It's not mint, but it's pretty awesome IMO. It's a prime candidate for a full factory restoration. It was originally the...