It was developed in WW2 to clean up the severely leaded aircraft engines. In modern engines it makes a good upper cylinder lubricant and cleaner, as well as a fuel pump lube.
Never ran high mileage oils in my vehicles. I use Walmart oil in them all. Been doing that for quite awhile, I retire them when they hit between 400k-500k. Worst I had was one using a qt of oil every 5k miles, but it was oil change time anyway.
I think (perhaps I am wrong) the key is to change it on a regular intervals.
I do run rotella t in my tractor, was told it has a higher sulfur content for diesels.
I have a 1996 K1500 Suburban with 270k on it, I run Mobil 1 15w-50 in it and change it about every 5k. It burns a little oil between changes. I regularly change tranny fluids and rear end oils as well.