Update:
I loosened the 2 large bolts as well as the spring bolt and it is now much closer to working- bike rolls without friction from pads and the brake stops it, although not as effectively as needed. Working on getting it to brake harder now.
I’m rebuilding a 1978 cb750k. Rebuilt wheels and am doing front brake now. Replaced brake lines, master cylinder and replaced the old style caliper (ribs and bleeder screw pointing to 11 oclock) with a new style one (bleeder in center pointing up).
I got everything hooked up, and noticed...