The Honda oil may not be the very best on the market, but it's not horrible. Take a look at this UOA:
http://theoildrop.server101.com/forums/s...ge=0#Post957437
Rick put 8K on the GN4, and that's their basic dino oil. It sheared down a bit, but the wear metal numbers were in line with the first two oils he tried.
There's a couple schools of thought on this oil thing, near as I can figure:
o If you're looking to save a few bucks but still go with good oil, go the HDEO oil, such as Rotella or Delvac or Delo. The 15W-40 Rotella can be had for $9/gallon at Wal-Mart; the 5W-40 synthetic for about $18. Lots and lots of success stories with this oil. I have the 5W-40 in my Goldwing right now.
o If you're looking for a good synthetic that's also JASO-MA, then Amsoil or Mobil motorcycle oil is pretty darn good. Pricey, though. But good. I've used Amsoil 10W-40 in the past was perfectly happy. But I like changing my oil every 3K to 4K miles, so it didn't make a lot of sense for me to pay for it.
o If you're looking to avoid all concerns about oil and warranty and all that ... then go with the Honda OEM oil. It's perfectly adequate oil.