Supposedly there's less maintenance with an o-ring chain - they keep the grit out of the important bits and last longer. Regardless, mine seem to need cleaning/lubrication often.. maybe that's just me.
Oil often, adjust less often.
The chain on my XS400 had many seized links. Being cheap I cleaned it and oiled it. A lot of oil.
With the bike on the center stand I clunk it in first. You can see the jerkiness of the chain along the bottom row. Out with the spray lube and squirt away. The chain runs smoother, and the jerkiness disappears. If the links have trouble turning and flexing, then it is also robbing horsepower.
I tend to think the O ring chains do rob a bit more power, than a well oiled non O ring chain. But they keep the water out better.
A chain that is a bit too tight, and not oiled enough, will wreck the sprockets.