I routed mine over the carbs...past the battery to the right...along the subframe...and next to the cooler under the tail...it is zip tied at the moment but I'll make an "L" bracket to fasten the nut to. That far back on the bike it'll hopefully never get motor oil in it.
Route it into a can or plastic bottle (See R1100's post)to catch any spray or you could end up with a serious problem on the 1/4 mile. I have gas-ported pistons and still get a little spit in the bottle on some passes especially if my oil level is high.
Remember you may leave oil on the track for the next guy even if it doesn't effect you.
sorry guys, should have told you. i have a pingel "catch can" to retrieve any excess oil from the engine. all of you are right, if you hit your rev limiter, you will spray oil. the reason my ventilation tube goes all the way to the back is because i was told that vacuum from high speeds will pull the pressure off the top end, thus making the motor not work as much. i know that sounds far fetched, but it didn't hurt to try it anyway!