I had a nasty experience with 1/4-inch chains. The first two prototypes had them. When we were doing endurance testing at high speeds (100 mph for 10 hours, with just rider change-over and fuel every 2 hours) we were making chain adjustments at every other fuel stop (400 miles).
We had a chain failure on the banked tri-oval section of the test track at about 110 mph - turned the engine into a boat anchor! Valves were bent, piston cracked and separated through the wrist-pin bearing and a con rod out the side of the case. The tach needle was bent and had jumped past the high-end stop, as the engine was at full throttle when the chain let go. It may have hit 10,000 rpm before it came apart.
If you ride hard, I wouldn't recommend going down to 1/4 inch. You might want to consider an enclosed chaincase. I've seen two types. One is a sheet metal shroud, split down the centerline. The other was made up from 1" square aluminum tube with flex joints at the ends with the chain threaded through before the split link was closed. Some times people put oil in the bottom of the case, but mainly they keep road grit out of the chain bearings.