The real purpose of oil analisis is finding mechanical trends and changing the rate of wear, extending the life of the engine. We often find mechanical problems, issues with mechanics and their stupidity or lack of concern in procedures, system leaks, etc. and can do an immediate fix to save the life or extend it.
When it comes to using it to determine the best oil, first you have to get ahold of all the variables you can. Sample the same way all the time, same temp, etc. Control contamination (water, dirt, etc.) Once the contaminants are under control, you can try different oils it the same engine trying to maintain the same operating conditions (load, ambient temps, trip length, etc). Then you need to run enough samples to establish a trend. I ran a two year plus test in two identical (theoretically) engines that ran together side by side, sharing the load, changing and analizing the oil every 1500 hours of operation for 16,000 hours of operation. One oil averaged 4 ppm of iron per analisis and the other averaged 22 ppm of iron. Both had identical contamination. The test ended when the second engine self destructed. It is safe to conclude from this that one oil is better than the other.
Also, knowing the additive packages and their advantages as we do from this board, when I see an oil with 80 ppm of calcium, 70 ppm of zinc and 70 ppm of phos, I believe it is safe to conclude that it is inferior without long term testing.
I have done some long term testing (2+ years) that shows decisively that you can get the same wear with a good group I CI-4 oil in 400 hours between changes as Delo in 500 hours between changes.
But with the selection of oils in the US, unless you do a lot of driving and want to really stretch the change intervals, I doubt that you can identify much difference in wear between two given oils of similar quality and additive levels because of all the rest of the variables.
Although my personal preference is to run a Universal (CI-4/SL) oil where the viscosity requirements allow it. I like the extra additive level that has demonstrated such a low level of wear in many vehicles, most recently in my Toyota pickup where severe conditions and almost 7,000 km between changes only showed 10 ppm of iron (Delo).