airing down has it's place. like I said in post 25, it makes a big difference... like staying on the road or not, that kind of difference. somewhere I have pictures to prove it. the times I've done it on my Versys (and GSs), roads were extremely slippery, and speed was reduce to 20-25 mph and even that being sketchey (this is a road I can do 70-75 on when dry and not think twice). not likely to bend a rim under those circumstances. you may never need to do it, but don't be afraid of it either. obviously, use common sense as well. I used to do it a lot on my KLRs, they simply work better off road with lower pressures
if I'm answering your question I assume the basic points have been addressed, such as: did you do a compression test? is it still on fire?