Blackstone Labs maintains an extensive database of wear metals produced by almost all types of piston aircraft engines. They performed an analysis that compared the wear metals generated by 571 Lycoming IO-360 engines using four types of oil: Aeroshell W100, Aeroshell 15W-50, Exxon Elite 20W-50, and Phillips 20W-50. They found no significant difference in wear metals between the four types of oil.
Another important oil-related issue is preventing corrosion (rust) when an engine is dormant for a period of weeks or months -- something that seldom happens to "working airplanes" (charter, rental, flight school, flying club, etc.), but is unfortunately common among owner-flown airplanes. Rust is the #1 reason that engines fail to make manufacturer's recommended TBO, so preventing it is extremely important.
This is where controversy abounds. Both Aeroshell and Exxon go to great lengths in their advertisements to proclaim the superior corrosion-preventive capabilities of their flagship multigrade oils (
Aeroshell 15W-50 and Exxon Elite 20W-50) and offer all sorts of laboratory test results to substantiate their claims. Similarly,
an independent study performed by and published in The Aviation Consumer confirmed that these two oils were superior at preventing rust on steel plates in a salt-water-cabinet test.