Hey.
I just finished rebuilding the Master Cylinder, replacing some hoses, cleaning the front caliper, replaced the piston seal, and bought new pads. I left the wheel on and simply just connected the two sides of the brake on the arm and the pads immediately touched the disc. Tightening the two sides to the arm, the way it is intended to be, results in the pads having a death grip on the disc. I loosened the spring and it is essentially at it's loosest point.
Here is what I did that might help you diagnose this:
1.When I rebuilt the piston I put a little grease on the piston and on the piston seal.
2. When I bought all the parts (from VintageCB750.COM) I ordered the pads too, which are NHC brand. Could it be that I need to remove the paint from the sides of the pucks to create more space?
3. The puck on the inside, held by the cotter pin, seems to be pretty thick in this picture. Is it too thick of a pad?
Any help would be much appreciated.