Let me start by saying I've used Pennzoil for years in many different vehicles. I've worked in the quick lube industry for 6-8 years now. Most of that time has been at Pennzoil branded locations. However, on my wife's car (1998 Olds Intrigue) if I run Pennzoil the fuel economy drops 1-3 mpg. I was running Valvoline Maxlife and getting great mileage vs. Pennz conventional or Pennz high mileage. Now that I'm working at a GM dealership, we use Chevron in our bulk tanks. Mileage is the same with Chevron as with Valvoline. I will not put Pennzoil back in her car because of the fuel economy. I've also had a 1978 chevy luv that when I ran PZ in it it would get hot and the oil light would flicker at idle. Switched to castrol and it ran cooler and never lost pressure. I'm currently working on my 89 BII and will put chevron oil in it because I get it at cost. If I wanted Valvoline I'd buy the Napa brand oil since that's just valvoline in a different bottle.
Now, for oil change intervals. GM has their Oil Life Monitor System (OLMS) in most of their vehicles now. As long as the system is reset at the oil change they recommend you go off the light or percentage. If it was accidentally reset or not reset at the change interval they recommend changing the oil at 3000 miles. Most vehicles utilizing the OLMS are going 5-7k miles between oil changes. The way the system basically works is by counting down the revolutions of the engine. It's set up to start at XXX number of revolutions between oil changes. Let's just pretend 10 million. The computer estimates the oil temperature based on outside air temperature, engine coolant temp, and other temperature sensors. Then the computer computes revolutions based on the temperatures. When the engine is colder and breakdown is slightly increased on the oil, each revolution is actually counted as say, two or three. When the engine is at optimum temperatures it counts each as one. When it is too hot and breakdown of oil is higher it counts each rev as six or seven. They base this all on conventional oils. Not synthetics or blends. Knowing that people are going 5k miles and still having 30% oil life left when I change their oil, I'd be totally fine going 5K in any vehicle.
We all will do what we want/prefer so this is just my opinion and experience, take it for what it's worth...