An oil cooler can be really helpful, depending on how hot the engine oil is running. My '79 K model ran at 250 F, at highway speeds, running a steady 60 MPH. Considering that dino oils break down above 250 F, my bike was running at its thermal limit, for dino oil. My cooling system cools the oil to 210 F max., almost always, under all riding conditions, thus far; cooler oil means a cooler engine, which means less wear on all components, longer engine life, and longer oil life, as well. Originally, I installed the Oil Cooling System because I planned on keeping my Honda for many years, and it was a way to double (more, perhaps?) the life of the engine, reduce stress, and repairs, as it was 30 years old when I started on the Cooler project. I had hoped it would really help us out when we were touring far from home, with our Debit Card as our only back-up.
It really depends on what a specific bike's engine oil temperature is running at.
Shiny related that his oil runs much cooler, but he has a SOHC, and mine is a DOHC, and they run their oil very differently. Oil coolers are not only good for racing, they can be good for any bike, depending on oil temperatures (towing a trailer, for example, will add stress, and heat, to the oil, and the engine). It is better to test the oil temperatures, before installing an oil cooler, if possible. Cooling systems can be expensive, so if they really are not needed, best to do without.
The DOHC engines run at 72 PSI, max. oil pressure, and the SOHC engines run much lower, I believe. This is another issue to be aware of, when installing a Cooler. I don't know if the Lockhart radiators were designed for the DOHC pressures, or not. If they came with worm clamps, I would say they were designed for lower pressure systems, as worm clamps won't hold 72 PSI! Cheers!
1979 CB750K (sold, 2012, but not forgotten)
1983 Kawasaki 440 LTD Belt Drive (sold, 2011)
1993 Kawasaki Voyager XII