Along with all the above, I like an oil with a slick-ery feel when lugging and then the ability to rev out without excess noise or loss of power. I also keep an eye on fuel mileage and an ear out for quiet running.
In the wife's subaru I appreciate an oil that also doesn't varnish around the cam sprocket - which is visible right under the oil fill cap.
As for synthetic, I finally had a dealer oil change after 5 oil changes by me (using various premium synthetic) and the bulk "conventional" they used is performing better overall than any premuim "synthetic" oil I installed which included, Valvoline Advanced, Castrol Edge, Castrol Magnetec and Quaker State FS. That was a wake up call. I still have to verify what oil they use.
-Arco