IMO, a patch of any kind on a streetbike tire is OK for emergencies to get ya home or to a garage/shop, but I personally wouldn't ride it for long that way.
Yeah, it sux there's not much use on it, but with only having two tires to start with, a blow out at highway speeds could be bad news.
As for a tube, not sure how well that'd work. Might run into issues with how the valve fits the wheel. But then again, I haven't ever done it, so it might not be a problem.
AKA: Tim & 'The Adventure Cycle' VROC #24567, NEVROC, SteelCity VROC
"When life throws you curves,
Aim for the apex."