I have always found Graham to be very helpful. Some of the misinformation about temperature is due to differing sensor positioning. Modern oils are quite happy at 125 deg or so, but the place you measure the oil temp on the R500 dry sump gives the 'bulk' oil temp in the main tank. IIRC, Graham reckons 95-96deg bulk oil means in the engine you are seeing 120+ in the hot bits.
Early R500's had a 9,000 rev limit. As Peter has said, the false initial economy of using standard bearings caused some blow ups, and they recalled them to fit proper race big ends. At the same time they also retricted revs to 8,600 RPM (which is where max power is developed) and reliability was improved enormously (unless, like me you decide to keep to 9,000 and discover that crank harmonics can cause them to snap at those speeds...)
Graham has always been concerned about oil (and water) temperature though - he says you need to see the 'system' as a whole. At first they fitted the apollo tank (at the time saying that the extra oil capacity helped keep the oil temp down, though I am sure de - airing the oil was something they thought desirable), and upgraded the water cooling to the triple pass rad (mine came with the smaller item).
My car has been fine except when driving in France in the Summer, when at Dijon for example I was seeing temperatures far too high. So I also fitted the oil cooler and it has stayed withing limits ever since.
I presume the oil you are using is the Shell 0W/60. Graham is pretty insistant that Mobil 1 Motorsport 15W50 is the stuff to use. I don't know how much difference the '0' makes in summer temps, but I didn't feel it worth varying from his firm advice