If everything worked properly on that bike, I think it would be a fair price. For us guys that live and breathe CB750s, it may seem high. The reality is, there are a bunch of them out there, but they are getting harder and harder to find. Parts, while plentiful, are still going up in price. Good clean tanks and pipes are never going to be cheap again. I would have no problem selling a bike like that for $4-5k in my part of the world - but, everything would have to work. No issues. The CB750 enjoyed a 3-4 year run where it was the darling of the collector bike world. It's a good entry level collector bike. The market has come down a bit in the last year or two, but people still want them and many are willing to overpay a bit. Just like the auto world, it is hard to recoup the price of a thorough nut and bolt restoration. That's why most restorations that you see are paint and polish. Whenever I sell one, my argument to hagglers has always been: Go find another... they are out there, but this one is here, ready to go and needs nothing.
Ultimately, the farther we get from 1969, the harder it is going to be to find good clean original stock bikes.
The days of finding $100 CBs are long gone.