Absolutely! Lots of riders will aslo use a stabilzer like Stabil, or a product called Seafoam is also popular. Be sure to agitate the fuel mix to get good dispersion throughout the tank, and run the bike a few minutes to be sure the stabilzed fuel is in the entire system. If you bike is a non-EFI model, shut off the fuel valve when you shut the bike off. Some guys will also run the carbs dry (let the engine run out of fuel) after shutting the valve off. Be sure to park the bike on the centre stand rather than the side stand; flat (boxer style) configured engines don't like leaning on their side for extended periods of time as oil can seep past the valves on the low side.
I always would top off the tank and put Stabil in when storing the Wing for winter. Did it for my 98 GL1500 and plan to do the same for my 09 GL1800. Make sure it's up on the A stand and put cardboard under it if it's an unheated garage. Put the battery tender on. If you want to cover it, put a light sheet over for dust but nothing that would hold moisture. If you have critters in your garage, put some mothballs around to discourage them. Then turn out the light and let the Wing go to sleep until spring.
Pancho: It's just a nick-name that applies to flat, horizontally opposed cyclinder configured engines. Commonly used by VW, Porsche and Subaru in the auto world, and BMW air cooled twins and GL Honda's four and six cyl GL's. 500 & 650 GL (and their CX cousins) twins were transverse V's.