Brad Penn oil, Anyone useing it

Yes. Brad Penn
One advantage of Brad Penn (and similar smaller specialty companies) is that they aren't changing constantly changing the formulation to meet new needs and or marketing.
I believe Valvoline makes 3 versions of the Racing Oil. Two could be used on the street - the third is for engines that rebuilt after x number of races.

You should base the SAE weights on the bearing clearances, pressure and oil temperature. You may find a different wt is needed for the track than street use.

A very good digital paper on the subject is Richard Widman's Oil for Corvairs
available here -
http://www.widman.biz/Corvair/English/Links/Links.html