The steel protector was a desperate attempt to save the cases in chain breaks, a lot of 750 chains were breaking and Honda was spending a lot of money fixing the engines under warranty. The protector didn't really work so well, the cases would usually break even with the steel thing in there.
The chain breakage problem ended up being from battery acid overflow dripping on the chain: the battery vent tube was relocated and the problem pretty much disappeared.
With a modern 530 chain, several times stronger than anything available in the 70's, chain breaks are very very rare and, as a rule, caused by poorly installed master links or truly neglectful care.
Personally, I wouldn't worry about it at all.