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Welcome to the forum. It's a good one that you can learn much from. The short answers to your questions are no and yes.
FYI: If you use the "Search" function at the top of the page you'll find about a zillion threads on Syn3 that are both informative and entertaining and they'll keep you busy for hours.
Even though it's not a popular oil here I used it in my 05 RKC for 40k no issues and I use it in my 2010 Ultra and will keep using it as long as the bike's in warranty.
For me, I switch between Mobil 1 V twin 20-50 in engine, Royal Purple atf in the primary, and switch between Ams oil gear oil and Royal Purple synthetic gear oil in the gear box. I like the clutch engagement better with the atf and the gearbox is quieter and shifts better with the gear oil vs engine oil.
I know others have used other oils and swear by them. All I can say is this. I have always done my services at my dealer. They know my bike. I have had, 2004 lowrider, 2007 fatboy and now 2010 roadking. Always used harleys syn. oil. I have never had any problem. Am completely happy and they work. So you read and read and try if you like but if you want to use hd's syn, you wont go wrong. It works just fine.
SYN3 is fine for the motor and primary but I personally don't think it is a very good transmission lubricant. I prefer 75w140 synthetic gear oil in the tranny. JMO
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