Oh, boy! Someone to get DEEP TECH with!
You didn't mention (or I missed it) which CB750 you had, so I'll pretend it's a K1 for the sake of discussion, for carb jet number references.
The pipe question: above 5000 RPM, it makes no difference which 2 pipes join in a 4-2 pipe system, because the distance is wrong, anyway. Period. If anyone wishes to see the evidence, look back at Hooker, Action Fours, RC Engineering and the rest: all different combinations of 4-2 were used, and the only thing they really did was improve ground clearance or appearance, one over the other.
You're on the right track, though: the 4-1 pipes improve things for stoplight-to-stoplight racing. The 4-2 versions, with proper jetting, all work so much the same that I'd go for looks or ground clearance before worrying about the power.
If you want the best performance overall, with the excitement of the full-throttle rocket these "big fours" have, here's the full poop:
Use 4 pipes, joining together the two on each side near the ends (Honda wasn't kidding when they did this, honest). Inside the engine, make this change: get a cam with 5 degrees more duration than stock, and advance it 3-4 degrees from the stock hole. Modify the spark advancer so that it can get 4 degrees more spark, but add some tension to the springs for a later advance (I have a post about this somewhere...). Richen the main jets about 10 or 15 to start, unless you're running velocity stacks, then make it 5-10. Drop the countersprocket to 17 teeth, raise the rear to 48 to 52. Make sure you have a good tires and an empty road, 'cause you're gonna need both....
In 1973 we tested several exhaust pipes on a 1972 K2 model, running on a rear-wheel car dyno (dropped the dang bike twice doing it). NONE of the 4-2 pipes increased the on-ground HP over the stock Honda pipes, and these were the baffled stock pipes, not the glass-packs. They DID make more output at lower RPM, though. We jetted and jetted, to no avail. The on-ground HP, stock, was 49 with the Honda pipes (at 7500 RPM) and 49 with Hooker, RC, Action fours and one from JC Whitney that a local liar said gave him 11-second ETs in the quarter mile. They all peaked out at around 6000-6500 RPM. Gearing was: 18-tooth counter and 48-tooth rear.
For stoplight racing, I'd recommend a 17-tooth front and 50 rear with these pipes.
We tried the RC 4-1 pipe and got 50 HP at 5500 RPM, but only 46 at 9000 (2nd gear, all tests). Same gearing.
Then, we tried the Yoshimura 4-pipe tapered megaphones. They required rejetting from the stock 110 mains to 135 jets, but put down 61 HP at 9500 RPM with no other changes. The 5500 RPM point was over 50 HP, but my notes don't show exactly whether it was 51 or 55, cause I was too excited: just "50+".
In a later test of a stock K4, we got 41 HP at the rear wheel, but did not change pipes. (Didn't drop it, either.

) This had the same gearing as above, but with about 5K miles on the chain and sprockets.
When I roadraced, I did it at 15k-16k RPM peaks (yes, the 750 will do this). The Yosh pipes just never did seem to quit...but, that's a whole different world of tuning, not for the cheap or weak-willed....