Pre-mix 101
OK, looks like it's time for a little pre-mix 101. I don't usually get into ratio discussions, because mix ratios are like religions to most people, and they tend to be closed-minded on the subject, but I'll put in my $.02 here anyway.
There is a prevailing myth that less oil is better, and that the oil in the fuel is what lubricates the engine. Both are wrong. The engine is lubricated by the residual oil that builds up in the crankcase. All the oil in the fuel does is replenish this oil.
The best way to determine if you are running enough oil is to check the level of the residual oil in the crankcase. If the ratio you run leaves enough residual oil in the crankcase to cover about 1/8" of the bottom of the crank wheels, then you are fine. If you don't have that much residual oil in your crankcase when you pull the top-end off, you aren't running enough oil for your riding style and conditions. With that said, to have that amount of residual oil in the crankcase at 50:1 (a ratio made popular by magazines and oil bottles), you can't be riding very hard, or your bike is jetted richer than necessary simply to deliver enough oil. I arrived at 26:1 for my bike with my riding style because that is the amount that gives me the proper amount of residual build-up. Small-bore engines require greater oil concentrations than larger engines to achieve the proper amount of residual build-up, because they rev higher and have higher intake velocities. Along the same lines, someone that pushes the engine harder, and keeps the revs higher, also needs to use higher oil concentrations to achieve the proper residual build-up.
To understand why the residual oil is so important, you have to understand what happens to the oil in your fuel when it goes into the engine. While the oil is still suspended in the liquid gasoline, it can not lubricate anything. It has about as much lubricity at that point as straight gasoline. When the gasoline enters the engine, it evaporates, dropping the oil out of suspension. Now that the oil is free, it can lubricate the engine, but it must get to the parts to lubricate them. The way it gets to the bearings and onto the cylinder is by being thrown around by the spinning crankshaft. Some of the oil eventually makes it into the combustion chamber, where it is either burned, or passes out the exhaust. If the combustion chamber temps are too low, such as in an engine that is jetted too rich, the oil doesn't burn completely. Instead, some of it hardens into deposits in the combustion chamber, on the piston, and on the power valve assembly. The rest becomes the dreaded "spooge". The key to all of this working in harmony is to jet the bike lean enough to achieve a high enough combustion chamber temperature to burn the oil, but also still be able to supply enough oil to protect the engine. If you use enough oil, you can jet the bike at it's optimum without starving the engine of oil, and have excellent power, with minimal deposits and spooge. At 50:1, you simply can't jet very lean without risking a seized engine due to oil starvation.
With the high oil concentrations that I use, I tend to get far more life from my cranks and rings than most of my friends that run leaner oil ratios. The high oil content also produces better ring sealing, so more of the combustion pressure is retained.
One small point. No one ever broke an engine by using too much oil.