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As far as I know the my car has always had M1 5W30. I used just about a quart since I got the car and have since switched to Castrol Syntec 5W30. Haven't used a drop yet. Coming from a Subaru a lot of those guys have switched over to Castrol Syntec from M1 in their STi's and they have also noticed the same thing. M1 just isn't what it used to be.
On the track I normally use a 10w40 such as this: AMSOIL SAE Synthetic Premium Performance 10w40 but AMSOIL just came out with a real racing 15w50 and a 10w30. The 10w30 is has a very high viscosity for a 30 grade oil and I'll likely try it next time I get to the track.
Use Mobil 1 5W30. Don't want to hijack the thread, but I was told to use the "Yellow" top bottle of oil instead of the gray top bottle. The bottle with the yellow top has a zinc additive which "performs" better in the car. Don't know if true or not.
Gene
The extra zinc isn't required in modern cars that have roller lifters. It would be required in a 71.