Looking good tanman!
Congrats on the free CB750 (love granddad deals), and welcome to the forum. It brings a warm fuzzy feeling into my heart to see a young-blood so excited to work on one of these old gals. I think that this is the best school project that I have ever heard of.
Good luck with your build.
When I got my K7, the PO had a set of heavy duty shocks for 2 up riding. As a short dude, I could barley touch the ground. I looked into quite a few shocks, and settled on a set of 310mm/12.2" Hagons. The come in many lengths, and are available with a clevis mount. In addition, they fit, perfectly, so no cutting or bending of the chain guard.
Also, they(DaveQuinnMotorcycles.com) can set up the spring weight to best suit you and your style of riding. For the money, they can't be beat. My opinion of course.
Keep up the good work!