Don't give up...you're 90% there. :-)
I need to ask: open choke means actuating it, like from a cold start? On the CB750s, to activate the choke, you pull on the choke knob. I would assume the same happens with your Nighthawk.
I'd double check the carbs. Adding choke richens the fuel/air mix, making it easier to start. If it dies when you add choke, my guess is you're getting too much fuel or not enough air, depending on how the choke circuit works (some close off the air inlet to the carb, others use fuel enrichment). If it dies when you turn off the choke, then your carbs aren't getting enough fuel, and it stumbles and dies. Adding a little choke puts more fuel in the mix.
I'd pull the plugs and see how they look. If it's very rich, they'll be black and shiny. If they're correct, they'll be light brown on the insulator. I'm sure there are web pages that show spark plug color ranges.
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.