This theroy of less oil I can definatly vouch for having played with tuning two stroke motorcycle engines.
I shouldn't say less is better what I should be saying is the right amount is what you need.
Next question is what is the right amount? Now this is really difiult to find....with a M/C you can just whip the spark plug out and check the colour for quality of burn and measure temp....unfortunately this does not work even with the lager glow engines due to the way they burn.
From my experience with M/C if you put to much oil in what happens is this requires you to run leaner as Mr Henderson says and this leads to heat siezure.

So I guess the qustions being raised here are what is the oil content that we should be running in these big strokers for max power/efficieny and how can we find that by trial and error......without killing engines????

Is there an "OS/Webra man!" out there that can confirm a recomended content so we have a chance??

Do the manufacturers Webra/OS allready put a safty factor in with there recomended value of oil content therfore taking us close to a "Lean Heat" situation??

The only info that I have found is people running a so called "Safe" amount of oil17% plus, this would pose the question what is safer, Lower oil content?

Mmmm lots of questions Guys
Lets hope all the answers are out there?

Richard