Oil and filter recommendations

Hot Rod oils are a good choice for hobbyist engines. They generally have enhanced ZDDP levels for anti-wear protection, and anti-rust additives to help control corrosion in engines that sit unused for extended periods. Lucas, Amzoil and Gibbs all make them, as I'm sure do others.
This is a good article that covers the basics of what happened with motor oil over the last few decades. It should help clear up myths and untruths that are all over out there.
HISTORY OF ZINC & MODERN DAY PASSENGER CAR MOTOR OIL