[HIPPO]

It might make a little more sense on a VRod, on the air cooled TC you just don't have all the different possibilities. When you are sitting on the engine and something is wrong you know it.
It is routinely done on OTR trucks but the emphasis is as much on reducing maintenance costs by extending drain intervals as on failure prediction. In all these cases you are talking of large quantities of oil so the cost of the test becomes pretty insignificant.
Once you have enough damage to show on the test and you have to go into the engine anyway the savings would be questionable.

 

[HIPPO]

It isn't like the bike is going to fall out of the sky. LOL.

 

[HIPPO]

Maybe I should have been a bit clearer, the TC's are very simple engines and all you have in there is aluminum and steel, other then the small end rod bushing. No coolant, major thrustwashers, etc, etc.
So, even if you had abnormally high levels of one or the other you would still be far from pinpointing a exact failure.
Maybe if you had extensive statistical data and operated a fleet of them it would make sense.
The reason I mentioned it might make sense on the VRod is because it is watercooled. I know on some engines creeping head gasket and cylinder head failures (as in small cracks) are one of the main reasons of doing the analysis. Don't know enough about the VRod to give an opinion and probably no one does yet outside of maybe the factory as there aren't enough of these bikes around to have significant data.

As far as those special places, that's why you throw a Glock or something in the tool kit.