The question is, are the wheel and rotors compatible with the K forks.
Bob
The Comstar wheel with it's axle and spacers will bolt up to the K forks, but the rotors are smaller than the 750K rotors, and are spaced further apart. The 550 used the same 275mm size rotors, so you could use 550 calipers, but since the calipers mount to the inside of the fork leg, they can't be moved outward to accommodate the wider rotor spacing.
Thousands of K bikes have had the dual disc conversion done with the stock spoke wheel, and yes, it is a significant upgrade. The F0,F1, K7 and K8 used a 42.8mm caliper, all the K models and the early Fs used the same 295mm rotor, and the stock 14mm master cylinder works fine.