As long as you are talking the Mobil 1 Racing 4T, yes, it is a very good oil.You should also consider Mobile 1 synthetic. I use it in any gasoline auto or bike. I use Amsoil in my Diesel engines. I did much research before making those choices.
I believe you are referring to the HP-4 which is not a bad oil. It is a 10W-30, not a 30 weight. It would be a little tough starting in cooler temps with a 30 weight and a lack of lubrication on startup.Honda has a new fully synthetic oil which is SAE30W. You can't go wrong using their product.