I always turn it off these days, after bending a rod on my GSXR750 from bad floats and non vacuum petcock I learnt the hard way.. Pulled engine and replaced rod reassembled it, replacing the float valves all for two seconds to switch it off. I know what i'm doing. But yeah, if you aren't aware of a leak but have one, its probable you won't hydrolock it like me but you still end up diluting your oil pretty well which is bad for bearings, overpressure crankcase etc
I turned the taps off on my 2-strokes too, same reason - don't want a crankcase full of gas.
If you have a vacuum assisted tap and know your float valves are sound I wouldn't bother, and I would think that new fuel injected bikes are pretty much foolproof.
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