Well, actually, depending on your situation, this ain't a bad idea; I probably don't think of it in cool HD terms, but if you had to put your bike up for periods while you're away or some such, it could do OK.
A few years back, I had a '76 Honda SOHC 750-4 I had found in pretty much stock condition. I didn't really have the room in the garage for it, and put it on my covered back porch, then would take it in the garage from time to time when I was messing with it. In fairly short order, the chrome and other parts started corroding due to the humidity here I guess - I was suprised by it. Something like this, in that situation, would have probably been a good thing. I ended up selling the bike a little bit later; too bad really as I guess those bikes go back to my youth when they were one of the baddest bikes going.
My first paying job was a gas station attendant (back when you had to PUMP the gas even for a dollars worth) @ $1.60/hr iirc. I worked all summer of '71, saved damn near everything I made, and in early '72 I bought a Suzuki Titan 500 2 cyl, 2 stroke; I had looked at Honda 750's and Kawi Mach 3's, couldn't afford either. I paid cash for the Suzuki, $836 out the door for a leftover '71. Wish I had the "bubble" for that too....