I don't believe in this, I believe in replacing the bad component thats leaking oil in the first place........
unless of course its your own piston rings........ then well....
most seals are dirt cheap, in fact you could just replace the bad leaking seal for probably the extra price that high mileage oil just cost you in one oil change..........
pretty much everything but the rear main is easily replaced, even the crank and cam seals aren't THAT hard.... slightly time consuming but not rocket science....
back on topic
right now I'm running Valvoline 20w-50 VR1 Racing oil........ it has some extra protection for the valvetrain....... Might switch over to the synthetic racing oil depending on what they have to offer in the racing line......... and how expensive it is......
during the colder parts of the year I might switch over to 10-30 or 5-30, I usually use Vavoline Synthetic at that point for when the temps hover around 40 degrees in the morning for my start-ups