I stick to synthetic now and the reason is I ran conventional oil in an AWD car for 127,000 miles, then switched to high mileage synthetic.
The synthetic flushed out conventional oil crud for 3-4 synthetic oil changes and that crud was broken down conventional oil due to high temperatures. That is the stuff that forms the varnish when you look in the oil fill cap.
There were some hot temperatures at times during mountain driving and always changed the conventional on the severe duty schedule, 3800 mile intervals. Oil analysis confirms wear is normal at 160k+ miles. I am running Mobil 1 0W-40 in that car, relatively inexpensive at Wal-mart. If I was going to go for a lower cost I would go for Motorcraft semi-syn which has had good reviews.
For our Ford V-10 I run Mobil 1 5W-20 Extended Performance.