Ron:
The oil does, indeed, cool the motor internals, but the heads are part of that, too. They get most of their cooling from the impinged air, but the oil plays a part, too, even if a much smaller part as it runs out of the rocker assy and back down the pushrod tubes.
OK, I'm impressed with the info. My question came from a 30 year old former life when I was working for a company which made gyroscopes and accelerometers for aerospace. These devices spun at 30,000 to 60,000 rpm and generated a lot of heat for their size. We ran the body immersed in an environment of pure silicone oil, not to lubricate it (it was totally sealed in a helium environment) but to cool it and dampen its' action (as in accelerometers). We found (through testing by our resident oil/coolant engineer) that certain types of silicone oils had far higher heat transfer coefficients than other things we'd tried, including synthetic oils similar to automotive lubricants. He found that, at that time, those "automotive" types of synthetic lubricants tended to reject heat as opposed to the silicone stuff that absorbed heat more readily and had a MUCH higher boil and flash point (some of those gyros could run well over 150 degrees c). Silicone oil is prohibitivly expensive for use in auto engines, but it looks like the synthetic oil companies have "tuned" their product for that use over the years.
I was only curious since VW engines are, by design, more prone to higher oil and running temps than are water cooled engines, which tend to be more stable, and I didn't know what effect synthetic oils would have on them.
Thanks!