Correct, it is fine to run M1 10w40 4T "Racing" on the street. I went into the weeds so to speak in the sense of saying M1 being on the lower end of the viscosity range has a decent claim to be a "racing" oil relative to others that state "racing" on the label, but live at the higher end of the spectrum for a given grade. Heck, I am probably on the spectrum.
FWIW, the Motul 7100 and 300V 10W-40 are also on the thin side for 40's. Actually thinner than the M1 4T.
But, last time I tried 7100 I wasn't impressed with it, not very good shifting feel and it was pricey.