Plain bearings (connecting rod) are protected from wear by a cushion of oil forming between the moving surfaces (the crankshaft journal rotating inside the connecting rod big end). The higher the rpm, the thicker (wider) this cushion will be (up to the maximum clearance of the bearing (approximately 001"-003"). A lower revving higher torque engine will require a higher viscosity oil to help build this oil cushion. A higher revving engine can achieve the same cushion thickness with a lower viscosity oil, and since power with a higher revving engine is more a product of rpm, the bearing loads at lower rpm's are not as significant as in a low speed, high torque engine. Hence, a lower viscosity oil will suffice in a higher revving engines plain bearings.
Connecting rod bearings are full of oil at startup. This is oil that was present at shutdown. This oil is sufficient to protect the rod bearings at no-load idle rpm until pumped oil starts being delivered (which happens in seconds regardless of viscosity). Oil pump pressure at operating temperatures beyond 5-10 lbs is of no consequence to connecting rod bearings. They achieve their protection from hydrostatic (rotationally generated) oil pressure between the mating surfaces.
Connecting rod clearances have always been designed to work best at operating temperatures with oil viscosity in the SAE-30 range.
Cylinder walls are lubricated by excess oil thrown off the crankshaft journal bearings. This lubrication IS directly proportional to oil pressure and INDIRECTLY proportional to oil viscosity. A higher viscosity oil will throw less oil through the journal bearings to the cylinder walls.
A higher viscosity oil will internally generate more heat as it shears than will a lower viscosity oil.
Cam lobes do not enjoy the same sorta closure as a connecting rod journal, consequently, the hydrostatic function is not as helpful to lubrication here. Cams LOVE high viscosity oil. The higher the better.
Roller and ball bearings ARE the "lubrication" between the shaft and the housing it rides in. Oil is only needed to lubricate the relative (sliding) movement between the balls (or rollers) and the cage that retains the balls (or rollers). If there is no cage, but just a lot of rollers, it's the sliding movement between the rollers (or balls) that requires oil lubrication. Since loads between the rollers/balls is slight, viscosity is not as important here.
Regards, Gary in Sandy Eggo