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78 Music Master - Fake? Expensive anyway?

It's legit, although I don't remember seeing tuners like those on a Fender from that era. I wouldn't pay $750 for any Musicmaster Bass, though. They don't have the big sound that a Mustang Bass has and use a guitar pickup (Strat). The one you're looking at has a replacement guitar pickup that's a rail pickup. That might help, but you can find one of these for cheaper than $750.
 
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I've just recently rehabbed a '73. From my research, I can tell you that the tuners are correct for the year. Everything else looks correct except for the pickup and knobs. Price is a little high for non-original. I've seen some sell in that neighborhood though.