Without the adapter, unfiltered/un-cooled oil may pass through the gap in the adapter. Only the lack of filtration is of real concern. I used a different adapter, added a CB900 Radiator, and an inline Oil Thermostat. Mine was on my 1979 CB750K, DOHC. I logged over 3,000(?) miles on it, without issue (72 PSI @ 7,000 RPM, max. oil pressure on the DOHC -- I was told the 900's radiator wasn't designed for that kind of pressure, but it was, and still is, as far as I know, holding up).
As to what to expect, my setup dropped my oil temperature from 250 F, two-up, 60 MPH, for 3+ hours of driving,
without the cooling system, to 210 F,
with the cooling system online, same load, same speed, but higher air temperatures. If you can drop your oil temperature to somewhere near 210-212 F, your engine's life will supposedly more than double. It needs to be at a minimum of 180 F, for the detergent oil to suspend crud, to be caught by the filter; at 210-212 F, it will quickly boil off any water byproducts from the combustion.
As to where to get the adapter, I have a few suggestoins: swap meets; e-Bay; post a wanted ad on Craigslist.org, too; try visiting local motorcycle junkyards, asking the staff there for it, to save yourself a lot of time. If you have a SOHC bike, you may not gain much from the oil cooler, as they run their oil a very different way, such that it never gets near 250 F... Cheers!
1979 CB750K (sold, 2012, but not forgotten)
1983 Kawasaki 440 LTD Belt Drive (sold, 2011)
1993 Kawasaki Voyager XII