The dynamics of motorcycle steering is very complicated and has little in common with the dynamics of steering an automobile. A motorcycle rider stays balanced by overturning the handlebars to compensate for turning it too much in the opposite direction. As the rider does this, the bike's geometry forces the front wheel straight. In effect, the rider controls the bike through a non-stop "tug-of-war" between the steering forces and himself.
A Steering Damper tones down the tug-of-war so the rider doesn't have to overreact. The damper reduces head-shake, and adds stability by keeping the front tire planted through the corners. Riders almost always prefer the way a bike handles with the use of a steering damper.
Honda's HPSD isn't a pure steering damper, it is more of a metered drag device. It has no damping effect steering right to left for up to 5 degrees off dead-center. After 5 degrees, the HPSD begins to absorb turning input with moderate damping. The actual level of damping is never much, and the 20 clicks of adjustment doesn't provide much of a change in overall drag. The HPSD is designed to completely eliminate drag as the steering reaches full lock position.
The more popular aftermarket bolt-on steering stabilizers are sold by Scotts Performance and GPR. While the factory Honda HPSD appears to be a mini shock absorber, the Scotts damper is the size of a can of tuna. Inside the Scotts damper houses an aluminum wiper that sweeps across the oil-filled housing as the bars are turned.
Scotts steering stabilizers are incredibly adjustable, and can dampen in both steering directions. It can also be adjusted to dampen at various settings, it can be turned off, dampen on the return stroke only, or dampen forces of turning bars away from centerline only. It can also be adjusted to dampen in all directions, all of the time.
The Scotts damper is position sensitive. In it's most popular motocross setup the Scott's damper knows where dead-center is and in which direction the handlebars are being turned. It provides dampening when the bars are turned away from dead-center, however there is no dampening turning back towards center. This is very nice feature when a rider desires the extra stability of a damper, but does not want to feel the device when scrubbing jumps.