There is a environmental impact factor that could be considered also.
Send me your AMSOil that you drain out after 4 or 5 runs. I'll have it tested and if its still ok, I'll run it for a year in my Explorer.

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Wow Jon, lots of good posts in here, above is my favorite.
I don't have a link to it(didn't bookmark it), but someone else pointed out recently that the oil system is about third of four important engine life factors.
The most important is the air filter, the massive percentage of engine wear comes from air borne material which gets past the piston rings. Limiting that source of contamination can do much more than any oil etc. The 2nd big source is the PCV system, if the crankcase contamination isn't efficiently sucked out, that adds to the materials which get into the oil, and hurt the engine.
Tons of performance vehicles are everywhere running cheap air filters, or wet filters(which filter poorly), and non functioning PCV systems. If you have a air filter breather on an engine which didn't have one stock, then the crankcase is likely not being kept as clean. A performance engine needs better PCV operation, not OEM or worse.
I have the Amsoil best oil, and their filter, in my 99 work truck. It sees severe duty, so I hope to reach 15,000 miles between oil/filter changes. The cost was near $52 total, that's cheap if you could do that just once per year, with no oil additions. If you have a significant oil consumption issue, you have a problem. A new engine built right should not need extra oil added.
I have been part of a thread on the Corral forum lately. It is amazing the number of people who think 20W-50 is a magic oil, or they think an engine builder puts magic into an engine, and it requires a specific oil.
If you are racing, real racing, you may have a need for frequent oil changes, or high dollar oil/(special specs blah blah, bearing clearances). For normal engines, including any built for street use, the quality of an oil is vastly more important than the weights, or change interval.
Jon, please don't use the cheap crap oil, I see it as a big risk, and for your engine investment, not good. Others are correct here, do a couple of oil analysis tests to confirm your oil's condition. When you know that you can trust the oil to last a certain period, you can save money, and stress.
I plan to run my new 332 with the same Amsoil and filter that's in my 99, for the same 15,000 miles(after the first 3-4000 miles). I shall have an oil bypass system on it before then also. Regards,