Sorry to keep y'all hanging, the past few days have been pretty busy for me.
The bike is in great shape cosmetically for a 39 year old machine. And yes, I did confirm that it is indeed a 1974. The paint is pristine except for a slight scratch on the tank near the seat that hasn't formed any rust. I"m not sure what my options are at this point for touching up that scratch, but I figure for the time being I'll put a coat of wax on it to keep moisture out of it.
I think the biggest thing we discussed in this thread was the mystery behind the tank graphics. The original owner and his son both state that absolutely nothing was ever changed in regard to the tank graphics since he drove it out of the dealership showroom in Richmond VA back in 1974. I have no reason to dispute this either, as the owner is a medical doctor, a trustworthy guy that I've met a few times before who would have no reason to lie. I did check the tank with a magnet for bondo, and it came out clean. There are also no other signs of the bike having ever been down. Now here's where it gets interesting though: I actually have a spare 1974 Boss Maroon tank to compare it to. The spare tank has the "correct" sticker. The tank on this bike actually appears to have a painted on "sticker". The paint job is done exceptionally well, and the only way I can really tell that it's paint is that you can see a very slight paint buildup in the corners from where the "sticker" was masked. If you run your fingers over it, there is no relief between the gold and the maroon. On the spare tank, you can feel the relief from where the sticker meets the maroon. Have any of you guys ever heard of a dealer, or even the factory painting on the "sticker"? The work is so well-done that it appears to have been done at a factory or by a professional with a precise template. Had the bike been crashed, I don't see how anyone could justify paying someone to paint that graphic on immaculately vs. just buying a replacement sticker. It is possible that the black line between the gold and white is a pinstripe sticker, but the rest is paint!
Here's what I already knew: The carbs are f'd and need to be sorted through. We tried to start the bike but the carbs were pissing gas on the floor so badly that we decided it wasn't worth it. Stuck float bowls for sure, on multiple carbs. The owner's son told me that it was a bike shop that decided to rivet the pin, not the owner's decision. I'm counting on having to completely rebuild the carbs.
The master cylinder needs to be rebuilt. It's leaked out all the brake fluid, but fortunately it didn't cause any damage to the paint. It did muck up the brake lever pretty good though.
The chrome on the wheels is immaculate. Not a speck of rust anywhere on the rims or spokes. The front fender has a couple of small dings in it, but nothing severe. I'll probably just polish it up and accept the character it lends. The badges have some slight flaking of the coating (paint and chrome) in some areas, but no chips or damage that can't be restored if I find myself bored enough to care about it.
Steering bearing feels great, and the forks are in good shape too. I won't know for sure until I ride it, but I'd say that there's a good chance that they don't need to be rebuilt right away.
The seat is immaculate. I'm really happy about that! Both the vinyl and foam are in great condition.
The cables and rubber (other than the tires) are in good shape and I wouldn't feel concerned at all about taking it for a few rides before I get around to replacing all that stuff. I'll eventually swap all that stuff out, and probably go with a stainless brake line, etc. I'll definitely be replacing the tires before it hits the road.
Mechanically, the engine oil looks good. It's been in the bike since '97 when it was last run, but isn't overly dirty. I haven't checked the plug for metal shavings, but I don't anticipate any problems there. I'll give everything a once-over (change oil, adjust valves, change plugs, etc) before I deem it roadworthy.
The inside of the tanks exhibits slight surface rust, but I think it's fine. I can't see any areas of flaking. I'll put a filter on it and keep an eye on it until it's had a chance to run through a few tanks of gas though.
I've had a steady flow of gearhead friends and neighbors dropping by to look at the bike, and although none of them are CB750 experts, they all love the bike and think it's in great shape.
For right now, my overall plan for the bike is to keep it close to stock and just enjoy the bike the way it was designed to be enjoyed. It's too nice to do anything other than that. I have another CB750 (1977) that I'll probably keep around and modify to satisfy that urge. At a minimum, I'll be swapping out the handlebars for something with a lower rise. I'll probably do something else with the exhaust too (I've never been a fan of the Kerker's asthetics). I may initially keep the 4-1 collector and weld on a reverse cone for the time being. A 4-4 would be ideal, but pricey. Lastly, I'm not sure what to think of the rear fender. The tail light looks cartoonishly large. I was eyeballing the taillight on my '69 CB350. It's smaller and looks like it might bolt right up. Another option might be to buy a buggered fender from ebay, bob it, and put a smaller brake light on it. I'd keep the original fender of course!
All of this will have to be put on hold for 3 months though, as I'm going out of town. That'll give me time to order some parts though and have everything ready to go for when I get back. I can't wait to get this bike on the road this summer!