I'm performing a light tune up on my bike, I purchased a new air filter, new spark plugs and a new fuel filter. Upon removing the number 1 spark plug had some oil on it. Is that something I should be concerned about? The oil wasn't on the electrode part but in the threads part. The plug wasn't swimming in oil but it was noticeable. I have all the plugs gapped and ready to go in tomorow, I stopped at the number one plug because it got dark. Boy, dis the plugs and air filter need to be replaced. After everything is all buttoned up I'm expecting the bike to pull like a beast.

 

Usually the spark plugs that are used on the F3 don't need to be gaped...they come ready to be plugged in.
I had the same oil issue with my plugs, I was told it was likely the valve seals leaking some oil.

The general outcome of the numerous discussions I've had with people:
If the bike still ran properly previous to your discovery...leave it. A valve seal replacement job is not for the faint of heart and can be complicated if you've never taken apart an engine.
Requires special tools, if you can fab them, great.
Check the fumes coming out of the exhaust as you start the bike cold after a night of sitting.
===>Blue tint to the fumes could indicate oil being burnt which may confirm the valve seals needing a replacement. At the very least, this would tell you oil is somehow getting to the cylinders and being burnt.
And last but not least...check your oil level..if there is a noticeable difference in volume, oil is either leaking out somewhere or it's being burnt.

In the end, it's your choice what you do, just know what you get yourself into before you start.

Personally, I didn't have any blue tint to my fumes, couldn't even see the fumes coming out, but I could smell them. Didn't have tools required, didn't feel confident in my wrenching abilities to take apart the engine. I also never noticed any substancial amount of oil not present when I did oil changes. Since I'm fairly sure my valves are leaking a bit of oil...it can't be more than 5-10ml per 1000miles since I haven't noticed a difference in oil. Even 100-200ml of oil would be acceptable in my books.

I think it's pretty easy to see I decided to leave it alone and simply ride and enjoy the bike.

If you're worried, check your plugs now and then to see if they're still looking good. Oil change time is good since you've already got the fairings off and it saves you a bit of time.

 

The oil was old and dirty oil, I know this because I performed an oil change a week prior to changing the spark plugs and all filters. There is no smoke when I fire up the bike on cold start. The exhaust actually smells less like fuel now, I'm thinking that is because the bike is now having a more complete combustion of the air and fuel due to the fresh plugs. I'm thinking that it's probably a leaky head cover gasket, I hope and so I've been told. We'll see, I need to yet install the manual CCT. When I get around to that install I'll pull the head cover off, check valve adjustment and what you're talking about.

 

quote-"I'm thinking that it's probably a leaky head cover gasket"