As always - Barry comes up with some very good points.
As for the pressure on the sidewall - isn't that the max allowable?
I've run the max on long hot high-speed stretches. I also pumped the pressure up last time I needed to get 600 more miles out of a tire worn past the wear bars.
But as already mentioned, the max pressure makes for a stiff ride besides insufficiently heating the tire, resulting in less traction - not to mention, a reduced contact patch. But higher pressures (along with minimal right wrist action) will net better fuel consumption.
As with anything, there's a positive and negative and quite often we're not given the complete data to decide for ourselves the best action for the current conditions.
Too little pressure causes over heating, softer ride, but less cushion making it easier to bend a rim.
Perhaps there may be a time you'll want to lower the pressure to gain one of the positive effects by doing so. On the R80G/S on really rough roads I'll lower the pressure to 20 lbs for better traction, control and ride. But once back on pavement, the pressures goes back up to 30 something.
Or you may bump pressure up to the max and slow way down to ensure making it to the next gas station.
I always use the pressure that is stamped on the side of the tires for my Goldwing and my R65. Years ago I used the pressure recommended by the manufacturer of the bike (which was lower) and found that the tires would start to cup. Since I have been using the pressure stmped on the tires I have experienced no cupping.