I, personally, would stick to the M1 "regular" for engines that are not worn, and do not smoke and do not consume oil.
Depending upon how the engine journals were clearanced in the 800 HP build, you could run 5W-30 through 15W-40. You engine builder can advise here.
One thing you should do is to get an oil temperature gauge, as long as the engine has 'normal factory' clearances and as long as the oil stays below 260dF then the 5W-30 oils will be just fine. If your oil runs above 285dF I suggest more oil cooler surface area and/or more airflow through the existing coolers rather than moving into the 15W-50 grade oils.
For an engine like this only a synthetic sould be considered.