I use 10W-40 Penngrade1 oil (formally Brad Penn, formally Kendall). It's a partial synthetic, high zinc, high phosphorus oil. Works fine for me. The amount of zinc is probably a bit of overkill because I don't have the heavy, cam killing, valve springs, but some zinc is needed in any flat tappet engine.
It really just comes down to using a good oil with enough zinc, changing it regularly and using a good filter. All else is just what name brand makes you feel warm and fuzzy.
BTW, according to my oldest son, who was in oil sales for a few years, most of the non synthetic oils are containing higher percentages of used oils these days. That's not a bad thing, believe it or not... It takes less refining for used oil than it does for crude. The end product is generally considered to be better too.