Royal Purple is very good oil. But you don't really need it for a street car and it's very expensive. Also, 20W-50 isn't optimal for a street car unless the engine is very worn or you're driving in EXTREMELY hot weather. 20W-50 is often used in racing engines because they're built with "loose" tolerences and the extra weight helps to maintain oil pressure. But a street engine is very different. Contrary to popular belief, what's good for a race car is not always good for a street car.
I've been running full-synthetic in most of my vehicles for many years. It offers very good protection for cold startups as well as driving in very hot weather. I also like that I can go longer between oil changes.
FYI, it's not necessary to change your oil every 3,000 miles anymore; let alone every 1500 miles. It won't hurt anything; other than your pocketbook and the environment. But the 3,000 mile rule came from many years ago when oils weren't nearly as sophisticated and engines ran dirtier.
For normal driving, you can easily go over 6,000 miles with regular oil and over 10,000 miles with synthetic. I know this sounds shocking, but test after test has shown no difference whether the oil is changed at 3,000 miles or 7,500 miles. Synthetic doesn't break down as quickly and can go longer.
The only disadvantages to synthetic oil are it costs more and it's more likely to leak. The molecules are smaller. As long as your gaskets are in good shape, it won't leak.
As for what weight to run, 5W-30 or 10W-30 is usually best unless you live in a very hot climate, like Las Vegas or Phoenix. Then 10W-40 might be better. 20W-50 isn't really a good idea unless you're driving across Iraq in August.[/
While I happen to agree with you on almost all of your points, I do have to disagree with one of them though. Most automobile manufactures recommend 3500 - 5000 mile service intervals for a reason. By products resulting from combustion end up in the crankcase and contaminate the oil. Also some people drive short distances, not allowing the engine to get up to full operating temperature. When this happens, condensation forms in the crankcase, often times leaving the oil milky in color (which is never good for the engine), resulting in a need for more frequent oil changes often times in the 1000 - 2000 mile intervals.