I'm a little bothered by the fact that this post prattles on for two pages and nobody has mentioned the fact that you are moving something heavy higher up on the frame.
The idea sounds neat and should make for a really clean look, it doesn't make much sense to me from a practical standpoint. If you want the bike to handle better, the idea would be to get the heaviest items to the lowest point on the frame. The heaviest items being: the muffler, the oil tank, the battery, and the fuel tank. The muffler is easy (see buell for a solution), the fuel tank because of the nature of these carbed engines is kinda locked in place, and there are plenty of chopper style tube oil tanks that you can mount lower in the frame. This leaves the battery. If you are keeping a stock sized battery then you want that as low as possible on the frame. The full sized battery has to weigh close to 20 lbs, moving it higher up on the frame means that it has more leverage in fighting you when you want to roll the bike from right to left or vice versa. If you are dead set on it make sure you get the smallest battery that will handle your needs. Yausa makes some tiny batteries (the vespa lx50s use a really small one and it still throws the electric starter) so start there.
It makes more sense to me to move the contents of the left side cover into the tank space than it does the battery, perhaps attached to the frame and then covered with the empty back of the tank like CrisPDuk mentioned.
If you really wanted to be novel, find a way to get a v-rod or v-may style gas tank to work on a cb750, then you can cut the bottom off your tank (or make a fiberglass copy) and mount all the light stuff in there.