Some of you have got rather mixed up about the relationship between viscosity, temperature and friction.
Firstly the lower the viscosity the lower the oil temperature, so a 30 grade oil will result in a lower operating temperature than a 40. That occurs because the thinner oil is pumped around the engine faster than the thicker oil.
Obviously some power is lost pumping thicker oil around an engine, so the fuel consumption increases by a few percent if you change from using a 30 to a 40 grade oil.
In general terms if you ignore the effect of local hot spots around the pistons at very high power settings, the higher the upper viscosity range the better, so some engines do produce slightly better wear figures when hot if a 40 rather than a 30 grade oil is used.
Most wear results from cold starts so the lower W rating is much more important than the upper rating for a multigrade engine oil.
The oil used in most F1 race engines is only SAE 10 to 15, so is rather light in comparison to normal engine oils, BUT the power loss reduction from using thin oils is very important as is the faster oil flow that can dissapate heat from the oil cooler faster.