On most FLH bikes it, (the oil from removing the oil filter), just makes a mess and degrades the front motor mount, but if you have the oil cooler like all FLHTCSE's have, then the oil gets behind the oil cooler and comes dripping out a bit later, like when you are going down the road.
It is an excellent way to keep the underside and back of your bike very well oiled. Because of this I always try to catch all the oil that I can with the bottle trick plus paper towels. If I miss some I usually end up taking off the oil cooler to clean up the mess.
Don't ask me how I know about this. [smiley=beerchug.gif]