I used Mobil 1 5W30 oil in my 2000 model Craftsman with the Honda 5.5 hp engine, up until my supply of old formula M1 SL ran out last year. Now, I have changed over to the M1 High Mileage 10W30, which is still SL. I change oil once a year, at about 60 to 65 hours. (I have an hour meter on my mower). It has never been down more than a sixteenth of an inch in oil level in a year, which can probably be attributed to regularly checking of the oil level and wiping of the dipstick.
You know, Briggs & Stratton's number 1 recommendation for its engines is synthetic 5W30 for ALL temperatures. They sell synthetic under their own name brand, and it, like the Amsoil oil for small engines is an SL formulation.