I run all my 2 strokes at 32:1 with Klotz R50 and Chevron premium. None spooge once the jetting was situated. Jet for the mix and dont change the mix for the jets
The real issue is not the amount of oil your mixing with the gas. It's the combustion chamber is not getting hot enough to burn both the oil and the gas.... it's only burning the gas vapor and sending the unburnt oil down the exhaust.
By adding less oil to the gas you're actually richening the jetting. Less oil = more gas per molecule. More gas per molecule = richer jetting. It sounds wacky, but it makes sense if you think about it on a molecular level as only gas and air determine jetting. Oil is only for lubrication, but since it takes up space it has an effect on jetting. The extra fuel per molecule can make for a hotter burn I suppose, so in essence it can work but I'm guessing you'll still need to go leaner on the PJ and/or needle and you'll be reducing lubrication to your bottom end.
I dont race MX or scream my motors like a pro, but I still like the warm fuzzy feeling from running a quality oil at 32:1. More oil promotes better ring seal/life and keeps that lower end well lubed. That's worth jetting for IMO. Rule of thumb to test if your ratio and jetting are properly doing their job of lubricating is to pull the cylinder and stick a thin (clean) screwdriver between the crank halves to the bottom of the case. There should be 1/8" - 1/4" of residual buildup down there. Of course, this needs to be done on a motor with enough run-time to accumulate build up.
Troy and Rusty 2 touched on a good subject. If it's been spooging for a while then chances are 99.9% the silencer packing material is saturated and it's just blowing out old spooge that's been living and accumulating in the exhaust system. It will eventually clean out, but not immediately and you'll be chasing your tail in the meantime thinking it's still spooging when it's actually blowing out the old junk. You need clean packing to really know if your changes worked.
Think about at what throttle position you're in most often (and not RPM's) and then it's easy to jet. Some people even put little paint marks on their throttle at 0, 1/4, 1/2 and 3/4 throttle and then a matching mark at the 0 position on the throttle housing so they can have a visual aid to quickly tell what throttle position they frequently ride in.
This chart is a great resource:
On my 300, at the temps (50-60's) and elevation (1000-2000') I ride it only needed the needle raised one clip. It's now a little lean in the middle (I need the next richer tapered needle in slot #2 for perfection), but zero spooge. Even after raising the pilot one size.
If you like puzzles then 2 stroke jetting is right up your alley. If not, you need crazy friends like me. I love it!