| Good oil will leave a film on the rockers etc to help with lubrication on start up. Initial warm up should be as most say, long enough to get your helmet and gloves on, then ride it on a steady throttle till the engine has warmed up.
Sitting with the bike reving high on choke and stationary for an extended length of time does more damage than riding on a medium throttle and letting the engine warm up.
Once warm there should be no need to wait longer than it takes to get your gloves on. | 
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