Front brake caliper misaligned with brake disk

[SB215]

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 immediately that the swingarm will only align with the brake disc if it is alongside it, instead of directly above.
I filled the lines with brake fluid, and the brake pad comes out when I squeeze the brake, however, as you can see in the photo, the right side of the caliper and the left side of the caliper are not aligned with the swing arm, and when I tighten the caliper closer together using the two large bolts, the caliper squeezes the disc so hard that is the break is affectively always on.
Any ideas of what I’m doing wrong here?

 

[SB215]

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.

 

[frogwash]

Did you measure to see if the wheel is centered in the forks?

 

[Scootch]

I'm having a difficult time envisioning what the problem is but.... Did you push the piston back in using a C clamp or such?

 

[dirtdigger]

The caliper mount should be up against the fork itself not on top of the fender mount. The fender mount should not be sandwiched in between the caliper mount and the fork. Get the caliper mount up against the fork and it should line right up.