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Agree with most of what everyone has been saying, except one. A racing oil is designed for VERY frequent changes, like once a week, right after the Sunday race. The additive package doesn't last. Use a street oil. Can't go wrong with Mobil 1. It's a Service SN oil, the newest top spec. I use a 5W30, many would prefer a 10W30. IMHO, a 5W30 gets all around the engine a bit sooner on a cold start.
Whatever you do, don't use a Fram filter. Use AC or WIX. I like to use a pickup truck engine oil filter. It's a bit taller and will flow slightly better and take that much longer to clog up.
Have fun.
Fram Ultraguard is a very good filter. The only Fram to use. AC filters are not that great anymore. Do not use a K&N Filter. They are now Chinese junk.