Yea I had one installed on my bike when I got it, seemd like a good idea at the time. In theory it is great, you never have to remember to oil your chain, just add oil to the resivior every few months and off you go.... well thats all true and works great, down side is that you have to clean your wheel every week because of the oil flung off of the chain. Sucks even harder if you ride on dirt because now you have an oily dirt coverd rim. I took mine off for a track day and never put it back on.
It's something I'd be concerned about if my chain weren't an O-ring chain, but since you're only lubricating the outside of the chain, I just use a good quality lube (I use Chain Wax) every 300-500 miles.
At 13K miles, my chain and sprockets still look fantastic, and the only time I've needed to adjust my chain was when I change the tire.
I've always looked at the oilers as a neat, but unnessasary farkle.. But extra oil on the chain sure can't hurt, so if you want one, get one.. And of course, we want pictures and a writeup on how it works..
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