Hard Braking

[Laminar]

And after an oil change, run the bike for 30 seconds to a minute to circulate the oil, then check the level again. I've had it drop from the top of the dipstick to the bottom after doing that.

[chas550sc]

I know for a personal fact that a chevy 327 will go 18 miles before failing without any oil pressure.

As noted above, there is plenty of residual oil in the system to tolerate a moment or two of low pressure (particularly since under braking you are unlikely to be at high revs), the existing oil on all surfaces doesn't magically burn up in one second, it probably doesn't even get hot enough to lose its lubricating proprieties in the moment we are talking about.   I'd say this horse's ashes have been whipped into a frothy cold frozen margarita, after being flogged so thouroughly that it caught fire (no oil pressure to save it).  
 

[isleofmanfan]

We used to ride down the highway next to any car w/ hotties in it and lock up the front wheel on a semi regular basis.  Neither of us ever had the oil light come on.

How would you know...you obviously weren't paying attention to the lights on the dash at that point!        

You are VERY observant grasshopper!  OK, so we never NOTICED the oil light coming on, being that we were being waved at out the back window of a cage.  But no, we never saw a light come on from hard braking.   

[Xevuhtess7]

Low oil pressure during decel is fine, the bearings arent seeing much load. load + low oil pressure is where you should worry

Many many race car oiling systems are designed this way, with oil pickups towards the rear of the pan