Robster - Aviation Consumer did a very similar test a couple years ago when Elite first came onto the market (you may want to search back issues if you have available.) They used steel wool as the test specimen, however, and had several controls. The purpose of the experiment was to exclusively look for time to first signs of corrosion. Elite did the best and Aeroshell 15W-50 did next best. The straight weight minerals did worst. Period. The difference was quite staggering. For infrequently run motors like airplane engines, this is something to consider. I know Ag pilots that swear by straight weight mineral, but they run their motors hard almost every day, and change oil frequently... Different use pattern.
HOWEVER, further testing of Elite brought some questions about their additive packages after use in a REAL motor. I ran Elite 20W-50 in my motor for a few oil changes, and started getting bad wear numbers from my UOA. I since went back to Aeroshell 15W-50 (among other things), and my numbers went back down. I am running an O-360-A4K about 150 hours/year.
Just got back from OSH, and spoke with the ASL CamGuard reps. Their additive (I tried it once, and my UOA did in fact improve) is basically a Ca detergent with another Boron additive. Cleaning the motor from the inside really does appear to work. They have more data points from use on piston helos.
You MAY want to consider LC. I have "heard" that it works well in air-cooled motors as well. I have "heard" that UOAs are good, and basically cleans the motor well.
Mid to high-time Lycs have an issue with cam spalling. During one of the motor forums at OSH, it was emphasized you do not even want to do an engine run up without warming the oil well into the Green Arc. For some reason, unless you have had your case modified at last OH, it is very hard for the motor to get oil up where it is needed most (cam and valve stems) for Lycs. Bill Scott from Precision Engine has a long diatribe on his website about this. Bottom line, at startup I would be less worried about oil in the cylinder barrels than at the top of the motor. The better the "residual coating" on the top end, it appears the better for your motor.
BUT, you run your motors far more than "average". MOST sole owners run their motors about 100 hours/year. I run mine closer to 150. This is very infrequent. You stated 350 - 400/year. This motor really is NOT a candidate for the corrosion related issues the rest of us see...
Oh, and valves will stick with straight weight oils as well. Itis more a function of all the ****ed lead and stabilizers in AvGas than the lube. That's why there is still a huge market for TCP (lead scavenger) in the piston market.
If you get a chance someday, take a trip to AirVenture and spend some time in the engine forums. I learned a **** of a lot this year. You can even participate in a complete tear-down of an O-360 if you want...