You might also try PB Blaster. It's a very low viscosity oil with some rust break-down compounds in it. If you can find it in a bottle vs. the spray can, you can dump a lot of it on stuff. But the spray can may do the job as well.
This all is assuming the issue is stuck rings, and not something else like a stuck bearing or broken trans/chain or other stuff.
Luke M
Used to have a 1979 CB750L, sold it as a parts bike, now riding a slightly modified 1984 VT700C. Network/Field Engineer. Central OH, USA, Earth, Sol System, Milky Way Galaxy, Universe.