Here is what I do, with advice from a former moto-cross semi-pro, who built a couple engines for me.
I run oil/gas at the oil manufacturers recommendation. The oils are rated to provide optimal lubrication at a specific mixture. If you mix it lean, there is not enough lube. If you run it rich, you will get lube, along with smoke, fouling, and sometimes overheating.
Many older bikes, chain saws, ect, are rated for the oil available at thier introduction. Some old bikes and saws ran at 16:1 or 24:1. That may have been needed because of oil formulas at the time of manufacture, but not now.
I had an old boat with an 75hp outboard a while ago. The guy I got it from ran it at 24:1, like the 1960's engine spec said. It ran TERRIBLE, fouled plugs like crazy, and smoked badly. I ran it on new oil, rated for and mixed at 50:1. It ran flawlessy for me.
Also of note is how long gas is stored. Although a saw or bike may start on year old gas, it may damage the engine. From a racers standpoint, the oil starts breaking down, and is less effective after 24-48 hours. That may not matter to you, but for a top spot racer, that may make enough performance difference to decide between 1st and 2nd.
Thisa is of course, IMHO FWIW