Oh right, suppose I should update this with the outcome.
I looked at I think around 7 different GS500s ... the one I mentioned in the original post turned out to be the best prospect. Bought it, rode it home, etc. Valve adjustment had 3 out of 4 valves tight, one was tight enough that I could barely turn the bucket around to pop the shim out. Curiously, the one that was in spec was on the loose end of required clearance - it will probably never need adjustment ever (intake valve). All shims that I removed had factory markings, so this is definitely the first valve adjustment ever performed on the bike.
I want to point something out, though, since people seemed to be offering merely general advice here. The GS500 is an air-cooled bike, with a motor that has not changed much in design since 1989. Air-cooled bikes generally need more frequent valve adjustments since they experience more dramatic heat cycling and may experience higher engine temperatures. There is a reason that the inspection interval is 6,000km! There really isn't much excuse for skipping valve clearance checks on a GS500, because it's as about as easy as it gets - I'm a slow-*** mechanic and I had time to do it on a weekday evening. A professional could easily do it in under an hour.