I am not a scientist, lawyer, mechanic - just a guy who loves flatheads. I am with your engine builder. I use 20W-50, the cheapest stuff I can buy (usually the Advance Auto parts brand and I think it's Haveline), 5 quarts per change (and I ran only 4 quarts up to about 1 1/2 years ago - there's a thread here on the Barn where I was losing oil pressure when I made turns - turns out it was a weak pressure relief spring), and I add camshield with ZDDP (
www.cam-shield.com) every time I change the oil, 5 ounces per oil change - 1 ounce for each quart - and I do not run an oil filter of any kind.
You all know I drive my avatar all over, at speed, and it continues to run great, burns no oil, and I change it as frequently as I can, usually after a long run. I changed the oil pressure relief spring to a new 50 lb unit and I run 48 lbs of oil pressure at speed, no less than 10 lbs at hot idle, even after just getting off of the interstate or in heavy traffic.
When I went to California and the LA Roadster show, I did not change my oil until I hit Pueblo, CO, on my way back and I only added 2.5 quarts during the ~4K miles up to that point. I would say 75% of that was due to leaking it, not burning it .... remember that was in temps of 110-115 degrees ambient temperature. With 180 thermostats my temp never went above 180-185 .....
Come on over and I'll pop the intake - the engine is as clean as the day Henry built it. Am I just lucky, have dumb luck, or is it just my engine? I don't know but that's my story and I'm sticking to it! LOL!
Bottom line - whatever works for you and keeps your engine builder happy, that's what I would use ....