I have an R1 streetbike that has 17,500 miles on it. I have never replaced the chain, nor do I need to. I have only used WD-40 on it from day one. That's it, no chain lube, just WD-40. I put it on and then wipe off the excess.
O-ring chains are internally lubricated and only need a light coat of lube to help displace water and keep the plates from rusting. The chain on my bike is still in very good condition. This bike sees many wheelies both on power and with the clutch and the chain has been adjusted no more than 3 times in its life.
My $.02 :)