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I had the same thing happen with my RG, I took it to the stealer and he added enough oil to bring it up to the half way mark without too much bitching; it did cost me 3 hours of my time through.
1. Oil level is best (and most accurately) checked hot. Check your owner's manual for instructions.
2. There is an issue with bad valve seals on some 05s. I'd keep a close eye on the oil level and if it looks like it's low again, check the plugs for indication of oil in the combustion chamber.
3. I have never heard of keeping the oil level intentionally low during break-in. That sounds like a recipie for disaster.
The oil level was the same the day I bought my bike. I remember this because the dealer was giving me a "walkthrough", and I remember mentioning the lower than the mark oil level.
He ignored me, and so I left it alone.
Nothing to worry about if it was in the "zone". I don't understand your friends theory because these engines are dry sump meaning the oil is not stored in the engine but scavenged back to the tank , so the level in the tank has no effect on the rings. The piston jets that squirt the oil on the underside of the piston would not be affected by the oil level in the tank either.
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