That's what I fed my '88 Supra for probably over 100,000 miles, changing the filter every 2.5k and draining the pan only every 10k. When I measured the valve stems at somewhere around 180k, they were as small as allowed. I even found a quart in my garage yesterday.
Now with a rebuilt engine, I'm running Redline 5w40, which seems as stout given the oil pressure gauge reads about the same as it used to with Syntec 5w50. I'll most likely go with the Redline 5w30 next time 'round as my gas milage seemed to drop 1mpg with the 5w40.
It's hard to compare the gas milage I used to get with what I get now because of the ethanol in today's gas (grumblegrumble).
Asterix