When I am planning maintenance for a new vehicle( I get a new truck every 2-3 years max - $40K +/- purchase price ), or for a hot rod or muscle car that I souped the engine up in, the cost of the OC is the least of my concerns. I have spent so much on the initial purchase price or the building of the engine that I only want to use the best oil for it. $50 for oil a couple times a year is nothing.
Actually, IMO, spending a little more for premium oil and filters actually saves you money as the engine last longer and is less likely to suffer a failure due to high RPM use if a high performance application like yours. Doesn't sound to me like your application is a candidate for cheap oil. Sounds like you need a premium synthetic and top of the line filter.
Obviously you have some cash sunk into this vehicle. Don't cheap out on OC's. You don't have to run the most expensive oil out there but pick a good one. You clearly are going to ask a lot of the engine( ie; racing and high RPM use )so don't start cheaping out on oil changes. That is one area where you should go with the best oil and filter can find and afford IMO anyway.