Hello MEDOBSON1. Thanks for your lengthy explanation. FYI it takes a lot more than your friendly dissertation for me to be offended. Common sense tells me that, especially in very cold weather, 0W40 oil starts flowing a lot faster and thus lubricates just about immediately then the syrupy sluggish 20W50. I have used the Synthetic 0W40 for over 12 years and have not noticed any leaks, smoke or other unpleasantness. In fact the few problems I have encountered both on my 1992 K75RT as well as on my 1995 K75 were totally non engine related. Again, I think 20W50 is wonderful for bikes w/ a wet clutch but puts undue and unnecessary strain on a dry clutch K75. However, I respect and welcome different opinions. 
The brick engines have been tested to be the coolest running engines in all of MC when they were made. Not because they are dry clutches but because they are designed with a separate transmission with its own gear oil sump, therefor there are no shear forces on the engine oil. That is what is preventing your practice of using a very light weight lubricant from causing problems in the engine. In truth the wear really occurs in that engine when it is first started. This is when most of the wear occurs to the bearings.
If the crank and rods were suspended by needle or ball bearings, the weight of the oil would make Little difference in the wear of the bearings. In the case of the K engines, which employ plain bearings, the engineer designs the size and surface area of the bearings, including the tolerances between the bearing material and the rotating surface materials. When it's all said and done the weight / viscosity is defined and tested on running test mule engines. ( 1980s time frame methods). The other factor is the oil pump and its output pressure using a 0/30 weight oil may not be adequate with an ambient temp above summer days. Basically, the results confirm the bearing wear attributes and a decision is made on what to specify confirming the decision with lube oil engineers being involved based on operating temperatures and bearing temperatures.
I will go out on a limb and believe no 0/30 oil was tested on these engines in the 1980s. I've seen the recommended oil charts before but don't have one handy at work. I do know that 10/40 is on the chart but don't recall if a 5/30 or 5/40 is. I do know that application of 10/40 is very limited to a low temperature range, below 50 degrees. So a 0/30, even if recommended would be limited to deep freeze riding! You are probably not seeing the extra wear your putting on your engine but it's happening, every time you start your bike. I would not use that weight oil in that vintage K bike, your rolling the dice.
Mike Dobson
Machinery Controls Engineer
NAVSEA
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