Warning - total 510 nerdout
I began my interest in bikes back when these 510/710s were hitting the sales floors. As a teen I only had interest for racing but was always struck by the value of this model when I began selling them. The 510/520 was the same quality as the 710/720 but at least $100 less - and with the exact same design and parts spec. The fork was made by Ishiwata with a lost wax crown and the frame was the lowest price model completely US made.
To understand the 510-515 value - don't even discuss the bikes with lesser (milder steel) forks and stays and headtubes with stays that were subassemblies (pre-manufactured - meaning the three main tubes were the bulk of the USA work) and . . . Simply nothing below the 510-515 was close in quality and nothing above it was appreciatively better - a perfect value from of the late 70s thru early 80s.
I finally came to appreciate the geometry as I aged out of interest in racing and got lucky and bought one used but haven't done anything with it in the near two decades I've owned it.
Your bike has inspired me - I have wondered would 42mm width 650b tires fit? Perhaps you modified the chainstays? I've bought long reach center-pull brakes.
Even the paint treatment gives me enthusiasm for a project like yours. Your paint reminds me of pen-paint sketch-on-frame ideas I have.
The infographic attached is clipped from old internet catalog images - mainly shows details about the fork (underappreciated if you think its the same as lower models) but also shows how this bike's tube specs outshines the 410 and 610. I could also do as deep a dive on how Ishiwata was given it's due
Thanks for the post about your bike and I too apologizes for non-Riv content,
Mark