Even the viscosity is not as important as most folks think it is. Look at the CAT specs for a piece of construction equipment. Recommended viscosity varies based on "ambient temperature" for both engine oil and hydraulic oil. I don't know of any contractors in my area that use different oils in the winter versus the summer, though the ambient temperature varies considerably.
I use 15W-40 in all of my engines, even the older pieces that originally ran straight 30 weight. I've never had an "oil-related failure", unless you count a hole in an oil pan or an oil filter that allowed all of the oil to escape. Some old school mechanics swear that straight 30W reduces oil consumption in an older engine, but I've not seen that myself. Nor do I believe in Lucas oil treatment, though it has the consistency of honey and intuition would suggest that it might reduce oil burning.