Unfortunately, yes, it is true. I didn't add the '85 RZ350 we found in Silverlake that looked like it had been underwater for the last 15 years. Guy wanted big $$$ for it. "Hey man, this is a Kenny Roberts Replica."
Who cares if the story is true or not; it's a fun read that makes a dull day pass. I do remember a similar Super Hunky story. As I recall, he was looking at a beater Sportster. The story was a bit more involved and told as only the Hunkster could and may be recounted in his book Monkey Butt. If you've not yet had the pleasure, I highly recommend it. It's as thick as any Michener novel. You'll be amazed at how fast you can still read. For you of liberal leanings, don't bother. It'll just ***** you off.