NGK Iridium plugs are fantastic on these bikes due to the lower energy needed to throw a spark. On the weaker coils on these bikes, they really perform noticeably better than standard plugs. On top of that, they should last 50,000+ miles.
With regards to oil, that is a Pandora's Box... I would recommend a synthetic, however, due to the longer drain periods (7,000 miles, easily), and the fact that these air-cooled engines run at, or very near, 250 F. Dino oil burns to carbon sludge above 250 F, so dino oil runs at its limit, in these bikes. Synthetic oils burn at 450 F!
As to brands, I recommend
Shell Rotella T6 Synthetic. It is not a true synthetic (it's actually a very highly refined dino oil), but it performs like one, at a very affordable price: around $26/gallon, at Wal-Mart. This oil, by the way, is 5W-40, so it is much thinner when cold, which is a plus, for easy cold starts. Do an Internet search for reviews, and feedback, on its use in motorcycles, then make up your own mind.
Another reason I use the
Shell T6, is because I can run it in all of my engines: car, truck, motorcycles, snowblower, and lawnmowers. One oil works in everything. Switched my air compressor to it, a few days ago, as I tried to run it, here in Tropical Minnesota... The straight 30 I had in it, was so thick, it would not turn over, and kept blowing the circuit breaker. The
Shell T6 (at 5W, instead of 30) allowed it to turn over like nothing. Cheers!
1979 CB750K (sold, 2012, but not forgotten)
1983 Kawasaki 440 LTD Belt Drive (sold, 2011)
1993 Kawasaki Voyager XII