The problem with asking about which oil is best is you'll get 11 different opinions if you ask 10 people.
I'm a car guy, but not a mechanic, so here's my opinion...
Regular cars under regular conditions - follow the manual.
The wife's Beretta has been getting oil changes around every 3-4 months since 97 with Pennzoil 5w30 and either wix or AC Delco filters. Runs about as good as an 18 year old 240,000km 3.1 can.
I've only killed one street motor - the 2.5 in my Fiero. Nylon timing gear + 200 miles at redline (Montana in 1996) = failure. Was running Mobil 1 synthetic at the time.
I just can't use the cheap no-name stuff though, even though I know it's the same. It just feels wrong - it's like screw top wine - you know it's just as good as the stuff in a corked bottle, but it's just not "right".
I've been using Pennzoil exclusively in my cars (with the exception of the Fiero incident) since 1995 and this is what's happened to them:
84 Fiero -> sold with busted transmission 90 Beretta -> still have it. Still runs fine. Motor will outlast the body. 90 Chev 1/2 Ton -> still have it. Starting to make lifter noise. Was my father-in-law's farm work truck for 15 years. Odometer broke at 200,000km back in about 2003. 01 Trans Am -> bought new, driven only in summer. Pennzoil synthetic. 100hp Nitrous kit for the strip. 86 Jimmy -> rusted into nothing, sold engine to uncle. Had 260,000km on it. Probably still running. 02 Subaru Legacy -> only had a year and a half. Ask me in another year when I do the timing belt.Ray