Ifix,
I understand your delima as I too have a 96 Ford Taurus with 63K and a 2007 Chev Impala with 34K that I inherited from my aunt in 2014. The Ford Taurus currently has Valvoline Full Synthetic High Mileage 5w-30 and the Impala I just changed using Mobil 1 Full Synthetic. Both cars have the Fram Ultra Filter. I too am doing 5K OCI and so my choices in oil and filter for many here are overkill and a financial waste. That being said I took advantage of a few sales and rebates which helped. The Filter choice I am willing to over spend as the Napa Gold/Wix and the Fram Ultra are pretty much priced around $8 in my area both are excellent.
I could buy an oil filter for maybe $3 or $4 less but I can live with the decision to splurge. In terms of oil the ones that have been mentioned are all excellent. I like either a full synthetic or at least a blend. Since you live in much colder weather I would probably stay with the 5W-20 or 0W-20. What I have found to be most important is that it is just not about the oil change for older vehicles, each month since I got these cars I have made sure to address maintance. Started with replacing all the fluids, then replaced hoses and belts, waterpumps, new spark plugs, fuel filter, ball joints, tie rods, end links,...ect. Not all were needed right at the time but each one needed to be addressed and by doing at least one each month I did not overwhelm myself and a few months I just chose to do nothing just to give myself a break. Good Luck