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Just a paranoid myth / wives tail, imo. It probably won't hurt anything, but you're not helping anything, either.

Change the oil and filter periodically (every 7,500 miles, or so) and use a decent quality oil and filter and your Wing will last a LONG time. The Honda OEM filter and GN4 oil is nothing special, yet you see lots of people getting well into the 6-figures on their odometers, and you don't really see any common failures of these motors.
 

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I loved the advertisement. Basically...

Our magnet = Freaky space age technology! Meatier tasting formula! Now with 50% more sparkles!

Their magnet = Freakish space wasting engine killer! Proven carcinogenic formula! Now with 50% fewer farkles!
 

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Is there any ferrous metal in our engines?
 
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