I used it a few years ago in my VW 1.8T. At the time, the bottle's latest API spec. which was SJ. Even though it now says API SM, the toughest spec. it does meet is MB 229.3 which is also met by semi-synthetic oils (by Euro oil maker's definition). Since Mobil 1 0W-40 meets the tougher MG 229.5 spec. and both have similar viscometrics, there is more technical justification to choose Mobil 1 0W-40 IMO. LM 0W-40 did NOT provide better fuel economy or ferrous anti-wear protection (as determined by particles caught by magnets) than M1 0W-40. Actually it appeared that M1 prevented ferrous wear better.
LM does make oils meeting the latest Euro specs, like their Longtime High Tech 5 W-30. It meets ACEA A3-04/B4-04/C3-04 ; API SM/CF ; BMW Longlife-04 ; Ford WSS-M2C 917-A ; MB-Freigabe 229.51 ; VW 502.00 / 505.00 / 505.01. Humorously, it contains Group III. It is under their "Synthetic Technology" category.
A curious observation I made when using LM 0W-40 and 5W-40 is that they were the only oils to leave "fish eyes" on the end of the dipstick that was supposed to be covered. Fish eyes are like dry spots but instead of the spots being completely dry, they are only slightly wet. To me this indicated a low affinity to metal, as PAO is known to have. I thought these oils were begging for some esters or more of them if they were present.