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After a bit of testing, reading, evaluation and asking about it on the VX800 e-mail list, the decision was made to replace the bearings. There was a 'notch' in the steering motion at about the one-o'clock position. Apparently this is not uncommon on these bikes and indicates that the bearings need to be replaced ASAP.
A fellow VX800 owner and wrencher suggested AllBalls for a steering bearing kit. They are fairly inexpensive and they have a good reputation. The local AutoZone had Timkens for about $30 each that would work and the local Suzuki shop had them for about $40 each. Both of them from AllBalls were about $40.
About Wednesday evening I decided to mount the swingarm. Well, the bearings need to be replaced there as well. Can't get them from AllBalls or AutoZone, so, will likely get them from Babbits.
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There are a few bulbs that need to be replaced and some rubber seals but overall, the entire instrumentation unit looks solid.
Now, one thing I want to say about the paint... I picked the Duplicolor Victory Red for the frame. Under it is the recommended primer. Over it is the recommended clear-coat; Duplicolor Truck and SUV ClearCoat. This morning I spent some time trying to figure out how the battery box should go in. Well, in the course of this little three dimensional puzzle play, the battery box lightly scraped the frame. Off comes the paint.
Luckily, this is a fairly hidden spot, and the underlying frame paint held up. It was still irritating to see how fragile this paint job is. Next time, if there is a next time, red powder coat all the way. Last year I received a quote of $325 for all red. Should have done it. Maybe it is not always a good idea to scrimp and save when doing a motorcycle restoration.
Off to wrench for the weekend!