Plugging the Oil Filter Bypass. Any problems ???

It is a common thing to do on expensive motors so all the oil gets filtered . But, im wondering if this has caused problems for anyone ? I was told that even during normal operation when the engine is fully warmed, the engine will bounce between having its bypass valve open and closed --- is this true ? If someone where to use a good flowing oil like synthetic 0w30 in conjunction with the bypass plugged...would this be a good idea ?

Any other thoughts on this topic ?

Thanks, Dave