somewhat related, since I got another Corolla last month, and this one does not burn a quart of oil every 500 miles like my 2000 did (with poorly designed rings) I looked into what would be best for this car, since I expect to put over 250k miles on the odo.
It turns out Toyota has a "Toyota Oil" that you can only get if you take your car to the dealer for an oil change. Im sure it comes in 55 gallon drums. Its a bit of a mystery what it is, rumored to be made by Mobil. Here's the thing: you can take your car to a toyota dealer and get an oil change and filter for $10 (4 quarts). I doubt its full synthetic, because the interval is only 5000 miles, maybe its a blend.
They do this to get you to take your car to the dealer for the loss leader oil change, and they check over every inch of your car and print out a 4 page listing of all the things they recommend you have done. I know this because the previous owner of this Corolla always took it to a dealer for everything, and kept all the receipts. He paid a lot for the work he had done, and the car is in excellent condition (with 107k miles on it). Im eternally grateful for his stewardship on this car... but I always change my own oil.
I dont know when the oil was changed last, it has a light that comes on when the 5000 miles have clicked off, but Ive put 1000 miles on it so far, and the oil on the dip stick looks like honey. I sure wish I knew what it is.