Honda did a great job of designing the cooling fins and oil flow for the stock CB750. In stock form, these are under-stressed and will live for almost ever. Fresh oil of the correct grade and viscosity are far more important.
Now, if you've got a side-car, one of those big Vetter Fairings, haul two-up, or run for long periods in extreme high temps - I'd say good idea. The downside of some installations is the lack of thermostat control. Too Cold is a problem too. An engine needs air, fuel, and temperature to have proper combustion.
I have one on my hot-rodded 836, but I will tell you that it's probably doing more harm than good. Mine is a Honda factory cooler from a CB650 Nighthawk with one of Terry's adapters that uses a K&N Chrome spin-on filter. It's a nice set-up, but using my little RayTek infared gun, I get 160 F on the oil cooler after a 30 minute ride. The temp goes up a little on longer 1 and 2 hour rides, but the highest I've ever measured was 180. The problem with that is it should be in the 190/200 range. Just look at the newer water-cooled bikes and you'll find that 190~210 F is their targeted range - this promotes clean burn and more power from your engine. If your bike is making more power running cooler - then there are some jetting problems.
I would not install one unless you have some extreme operating conditions in mind. Cooler is not better -
Best Regards, Gordon
http://www.rrrtoolsolutions.com/articles/honda-1974-cb750-four-cb750k4/