Well if it's a first main so not an alt that became a main, you should really do everything everybody else did.
They might add something later down the line that awards a 735 with even less effort, but that would have to be long into the 795 realm to appease all the folk who would cry blue murder about how they 'did this thing for that long why should get it for free...'
If they added a catch up for the HFC element then you could, if you're really serious about an alt becoming a main, get a legendary ring pretty quick. Whether it's X or Y ilvl is nowhere near as important as simply having it.