No it will not void the warranty. The difference is miniscule. Ford say use
5-20 because it helps them to achieve their fleet fuel average. With standard petroleum based oils, the 5-20 has slightly less drag on the internal moving parts and thus provides a very small advantage in fuel economy. In real day to day driving, this advantage would vanish as individual driving habits and differing road conditions as well as tire pressure etc were factored in.
With 100% synthetics such as M1, flow is improved providing better lubrication at all temp ranges. You will be doing your engine a favor by using it exclusively as it resists break down and resultant sludging much better than regular oils. Of course, if you change oil and filter every 3500 miles or three months, you'll likely never have a sludge problem any way. The real advantage to using 100% synthetics comes during times of extreme temperature operation. When it drops to sub-zero temps, the synthetics are still flowing freely thus providing much better cold start lubrication. At higher temps, such as are found in the Southwest during the summer and under conditions of extreme load such as pulling a big load up steep grades, the synthetics resist burn off and cooking better than petroleum based oils making them a better choice for these applications as well.
In short, if you change your oil frequently (filter too) and you do not experience extremes of either temperature of load, regular oil will work just fine and 5-20 will give you slightly better mileage. If however, you push your vehicle to extremes, the synthetic will serve you better.
Now, if you happen to have a Wal-Mart near you, a basic change using M1 and a new filter will cost you $29.00. You can't beat that with a stick. In fact, it's hard to beat that doing it yourself.