Sorry for the Noob question but why the Oil temp Gauge? I saw Vlads and meant to ask but didn't when we were out a few weeks ago . Oil temp gauges have not been a topic on other bike boards that I can recall.
It's mostly for the masochists like me, so they can freak out when the needle goes out of range in heavy stop-and-go traffic at 35 degrees in the shade :). If I didn't have it it wouldn't have bothered me. Not that I heard of anyone ever damaging Bandit's engine by overheating.
Joking aside, Bandits are oil cooled, so this gauge serves the same purpose as the water temp gauge on water cooled engines. It's good to know when your engine is up to temp and ready to be flogged :). I am also a big fan of all sorts of measuring instruments, so it's a plus for me. Other than that, the effect is mostly bling. Bottom line, it would be hard to rationally justify spending more than $30-40 on it.