LOL...yeah a LT4 should run nothing but premium. The compression is almost 11.0 and that dictates at least 91 octane. Running less will trigger the knock sensor and that will retard timing and kill power. As for oil, Chevy put 5W30 Mobil 1 in them when they were new. Unless you truly plan on beating the [censored] out of it, I'd stay with that as this engine doesn't require a thick oil under normal use. I've owned a couple of LT4s, from bone stock to a Vortech 600hp supercharged beast over the years and they are a great engine.