I am the only person that ponders on oils or does anyone else look into it as much as I do?
Nope, far from it. Oil is one of the most important components in the engine and one that sooo many folk overlook. I reackon a good number of the mysterious v8 misfiring problems are actually oil related (especially as some poor folk change everything electrical and the dang still misses)
My choice would be a good quality synthetic, but of a slightly thicker consistancy (like the 10-40). If memory serves this is what was used in our racer. Good oil won't foam as readily as cheaper stuff which can't half make a difference. It does however sound like you've got the ol' v8 rattles - this normally indicates wear in the cam train, so it may also be worth thinking about having a look at the state of that at some point.
Cheers
Eeyore