Well, theres more than one way to jerk your chicken. You can do it dry and wear and tear evrything up. You can start out dry and add the lube as you go. Or you can do it the most common sence way... LUBE EVERYTHING BEFORE YOU START A STROKE
You could say theres no wrong way to prelube, but there sure is a better way than shutting the fuel off and cranking.
If that was such a great engineering idea, wouldnt you think the emergengcy generator sets, emergency fire pumps (ships that use diesel engines to pump water and spray fires out) oil fracs rigs, not to mention stand by diesel generators that keep entire hospitals running when prime power fails would use it?
I build these things listed above every day for one of the largest diesel engine producers known to man. Wear at initial start up is a big thing with these type of arangements. Shutting the fuel off and cranking it over dry to build oil psi is not much, if any better than just starting it up and going. We have done test on these type of things to get the knowledge we have... actual test, tearing down engines, chemical analysis of oils, mic'ing the bearings etc, etc.
HOWEVER, not every engine is a "life or death" set up. I wouldnt consider my tractor, my truck or my lawn mower a critical issue for start up reasons. Doing the fuel shut off thing might be a little better than just starting it up. But, if you want the best of the best , get the oil flowing before you get the engine spinning.