I do this. Even if you don't scrub the chain, the soapy water attacks the lube.
I prop up the back of the bike, spin the rear tire, and hose down the chain pretty good. Then I continue to spin the tire while wiping up the excess with a rag.
I am currently using Honda's branded chain lube.
Early 750s don't need as much lube if the auto-oilers are working properly, but I do so anyway. Too much means some cleaning, too little means a broken chain
mystic_1