Hi coops, welcome to the forum, one of the best. My brother owned a Kawasaki dealership in Greenville Ms. and when the new 900 Kaws , a 3 cylinder, 2 stroke, if memory serves, he invited me to take a test ride. It was very fast off the line, but when that power curve kicked in, wow!! That was one quick bike. Why not find a wiring diagram for your 500 and wire it up right? Just a thought. Good luck, I wouldn't want to do it.
Mac