Steam,
If you want to use Castrol R or a similar product you'd need to thoroughly clean all traces of the old oil out of your engine. Ideally you'd start with a freshly rebuilt motor. I use Rock Oil castor oil in my bike and I've found it to be excellent. The main caveat with castor based products is that once they've been up to working temperature they start to degrade and coagulate, which is the gumming up Paul refers to. If it comes into contact with mineral oil it clots immediately into a gooey snot which can be catastrophic, hence the need to clean everything out before converting.
As RCGBob says, it's not really suitable for a road bike. A major downside is that if you're away on the bike and need to top up or replace the oil for some reason you've got bugger all chance of finding any! I've also got a sneaking suspicion that starter clutches don't like castor oil.