I seem to be one of the few dissenters on this topic, but I'll stick to what I have seen with my own eyes. I put an auxiliary oil line on my stock engine when it had 100,000 miles on it. I pulled the stock engine out during the restification and replaced it with my hot-rod engine. The stock engine at this time had roughly 150,000 miles on it.
The stock engine has never been rebuilt and with 1/3rd of the miles, the high miles, with the auxiliary oil line attached, the bearings showed zero excessive wear. Yes, they were worn but didn't look any worse than an engine with like mileage that didn't use an auxiliary oil line. The oil pressure was also still hitting 30psi at warm idle. So to me, that doesn't sound like its starving the bottom end of the engine for oil.
Kas Kastner is a reputable source, but not really about the longevity of street driven Triumphs. His knowledge, considerable that it is, is centered on racing. Where those engines would spend a LOT of time at the upper end of the rev range, even beyond the design specs. He also broke a lot of cranks when it had nothing to do with lack of lubrication but lack of support and too much crank flex. Especially when they would hit the second harmonic over 6,000 rpm. Again, not a problem with a typical street driven engine.
The factory put a threaded hole there for something. I've never really bought into the explanation that its left over from a machining process. They could have plugged several other ways much cheaper than threading it if that was all that it was. The TSOA archives even list using an auxiliary oil feed for light competition and rallye use, which is probably why its threaded and not plugged.
The oil passages that feed the head are very small and can get plugged very easily. This is less likely to happen with today's better, higher detergent, oils though. So maybe its not needed as much as it might have been at one time.
The majority opinion is that they are bad. But the majority opinion is also against the Pertronix Ignitor. I've had good luck, and no negatives with both products so I'll be keeping them. My Pertronix has been in my car for over ten years now. I've even left the key on longer than two minutes with zero ill effect to it. Maybe I'm just lucky.
Bill, to answer your question, yes, supposedly you can use a roll pin to reduce the flow amount to the head. I've looked into it but am not quite sure how it would work without effecting the flow to the oil pressure gauge if you have that hooked to the auxiliary line adapter as well. A fellow on the 6-Pack forum was experimenting with an adjustable line control for the auxiliary oil line though. Might be worth checking out how that is working for him.