oil/tranny oil questions..., yes, again... with a twist Options

[tat2dphreak]

ok, bear with me... part of this is similar to other past threads, I know... but I can't find a clear cut answer to some things that pertain to my specific situation...

1) the 2056 I am putting in has 1500 miles on a complete rebuild... will using castrol synthetic blend 20-50 (not my first choice, but I already have it) be bad to use for the first 500-1000 miles I put on it?

2) I plan on using Valvoline Full synthetic afterwards, because that is what Jake recommends for cool temps... what weight though? 20-50?

3) I have heard a lot of people SWEAR by swepco 201 tranny oil.. again, I want to use what I already have for the first little bit... I have some slick-50 80w-90... will that be ok, until I can find something better?

4) I was talking to a guy today at the FLAPS: he was buying a TON of this "Lucas heavy duty oil stabilizer" I've always looked at this stuff as snake oil, so I asked him... "does that Shit work?!?!" he said HELL YES!!! he runs a super-modified car (2 actually) and he said it has saved his engines more than once... once he got a hole in the oil pan, lost all the oil, but was still able to finish the race... when they pulled the eninge... he swears there was no wear on the rod bearing and everything was good... now, he may be full of (IMG:style_emoticons/default/bs.gif) but he sure seemed like a believer... so I am wondering now... has anyone tried this stuff in our engines? it basically looks like a really heavy oil.. very sticky (he said when you pull out the dipstick, the shit strings everywhere...), but flows like water(or a THIN oil) (so it appears)... he said the oil pressure may jump up a bit...
basically the conversation made me very curious about something I have totally dismissed...

thanks for all you guys' help!