2 more cents;
My uneducated guess is the more demanding componets for oil are clutch and transmission, not engine. I have a new bike and gear changes are getting better w/ fresh oil. This should settle down after a few thousand miles.
My plan is to change oil every 3,000 miles or 1/year whichever comes first. 5,000 mi. or 1/year is probably just fine and may be easier to remember. If your riding in dusty conditions, shifting at redline or stop and go all the time every 3,000 miles may make sense.
I plan on doing oil chages every 3,000 miles mostly for my own amusement, but I will only change the filter every other oil change (6,000mi). Not only is the filter easily good for 6k miles, your only changing 1.8 quarts of oil, takes 10 minutes, not bad at all.
BTW I'm not planning on using synthetic oil. I have used it in the past, but w/ new oil every 3,000 miles the premium regular M/C oils like castrol are plenty good enough, cheaper and easier to find.