Depends on the engine and use...to your specific question, no, I am not using it for extended drain.
That said, our '06 Corolla is pretty easy on oil. Spotless inside the engine. It gets whatever oil I can find on sale. I find that it wears the front tires quickly, however, and I am teaching its young driver the importance of regular maintenance (she is good about this, by the way) so I stick to the 5,000 miles OCI. That's when the light comes on (thus reinforcing the good habit) and that's when it's time to rotate the tires.