I was taught by old-time mechanics that excessive “deep-cycling” is hard on bearings….but to live up to what I preach (“show me where it says that in the manual!”), I can’t point you to any documentation that tells me that, so it’s hear-say. However, I don’t know what good deep-cycling does, so I have no reason to do it. I agree that if an engine/prop has been sitting a long time, or it is very cold, then cycling a few times to get some oil exchanged isn’t a bad idea (although I don’t know what t takes to actual move oil through instead of just varying the pressure….). But what bugs me are these student/instructors setting at the run-up pad, running the engine at high RPM for several minutes with these multiple deep “waaaa-waaa-waaaa’s” that they are only doing because the instructor was taught that way, and doesn’t know why. High RPM while sitting still is one good way to kick up gravel and sand, tearing up prop tips!
My personal method for normal flying, where the airplane is used regularly, is one quick prop cycle, just to make sure that the governor is working - I restore the lever to full forward as soon as I see an RPM drop, and it rarely drops more than 100 rpm if I‘m quick. That proves the system is controlling - you can’t tell if it is actually governing until you try it in flight! A check that both mags are working with no fouled plugs takes about five seconds, a prop cycle another three, and I’m back to idle.