Jim: The above is a thread I and several other engineers participated in - it is the best synoil and oil thread I have seen on the Web - much good info. I was a tribologist (lubrication scientist) for the first 10 years post grad, later switching to computer engineering, but I am rooted in cars and have built, restored, and raced them for many years. (SCCA class C license).
To answer your question driectly, the answer is yes - i prefer to use a 5w30 synoil, and Mobil 1 is a good one, although I prefer both Amsoil Series 2000 0w30 and Red Line 5w30. I would not use a mineral 5w20. You might also consider 0w30 Mobil 1, as its flow rates when cold are comparable to a 5w20 minoil, and its high temp stability and shear stability are much better. I posted on this Forum on "why 5w20" and it wasn't to reduce wear. I have real concerns that in hi-perf use, there will be much more boundary lube (metal to metal) in a 20 wt oil as its film strength is much lower than a 30 wt.
I will use Pennzoil 5W-20 for the first 10,000 miles. It meets the Ford requirements as listed in the owners manual.
After that, I'll probably use Mobil 1 5W-30.