I used to think that 5w20 oils were going to cause a lot of engines to wear out sooner, but I think we can safely say that this isn't true, after seeing a ton of cars on the road that have gone high mileage with this viscosity. And if you think about it, the actual operating viscosity of most 5w20s isn't that far off from most 5w30s. If you look at a lot of conventional 5w30 UOAs on here you see that the oil will thin out from 10 cst at 100c down to around 8.5 to 9. And most 5w20s start out around that point and stay there for the entire interval. The added benefit of the 5w20 is that it's got a lower viscosity at 40c, so during the warmup period it's going to flow better than 5w30s will. So 5w20 is especially good at keeping engine wear lower on short trip vehicles.
My wife's 2000 Civic was the last year that Honda recommended 5w30 in the owner's manual, they started specifying 5w20 a year later. I still decided to switch her car over to 5w20 a couple of years ago and the wear numbers have shown it to be a perfectly safe choice. My only beef with using 5w20 is that there aren't as many good sales out there, most of the best bargains I see up here are for big jugs of 5w30 or 10w30.