Ah, spare key issue. Good point. In my case, the bike will start, and the seat will open, but that steering lock bolt won't pop out. I think mine is just stuck, but in fact all my keys are just copies. God knows where my original Honda keys are. So... if you use the original Honda key the lock will pop out?
I got to thinking about this problem, and this could be a rare case where we'd be better off buying brand new replacements. I'm all about after-market filters and hardware store bolts, but stuff like locks should be reliable.
If we do get that lock part to come out, and we lube it up, maybe take some 600grit or Scotchbrite to it... we still can't really clean the tumblers inside. If it's been stuck in there for years already, what if we lock up the bike for the winter and come back out in Spring and the bastard is stuck locked? Granted, if you're a daily-driver then it could very well be okay. Good luck with whatever you do!