To answer your initial question, yes, MC specific oils and HDEO's are indeed similar, hence the widespread use of HDEO'S in motorcycle applications with excellent results. To give the most relevant comparison as possible I'd compare the Delvac 15W40 and their V-Twin motorcycle oil in 20W50.
After a quick search I wasn't able to find either Mobil's MC 10W40/20W50 VOA, but the 20W50 is formulated very similar to their 10W40, except of course for viscosity and ZDDP content, so I'll be basing it off our most recent UOA of Mobil 1 10W40.
http://www.pqiamerica.com/May 2013/delvac.htm
http://www.bobistheoilguy.com/forums/ubbthreads.php/topics/3337753/1
Delvac/V-Twin
TBN: 9.66/Unknown
Viscosity Index: 136/142
Calcium: 1347/1727
Magnesium: 911/8
Phosphorus: 877/1600
Zinc: 1012/1750
Moly: 48/79
Boron: 65/186
Given this isn't the best comparison because we're lacking a VOA for the V-Twin, but you can begin to see the differences in formulation between Mobil's HDEO and MC oil. Delvac utilizes a detergent blend of Cal/Mag while the V-Twin uses primarily Calcium alone, along with nearly double the Phosphorus, over 50% more Zinc, double the Moly, and nearly triple the Boron. While these numbers show that both are stout well formulated oils, it's obvious Mobil's V-Twin formulation is more robust; but is difference worth the cost of $9.99 per qt. at Walmart? I agree though, the other significant factor is the recommended viscosity for your application and subsequent oil temps, but many air cooled twins have been performing quite well on the thinner HDEO's, as is obvious by the fellow rider with 200K on his moto exclusively using Delvac.
BTW, here's the performance criteria for the HDEO's in CJ-4 on page 38, and JASO MA stats on page 108.
http://www.aftonchemical.com/Lists/Brochure/Attachments/40/Specification_Handbook.pdf
P.S: If anyone finds a VOA for either Mobil's MC 10W40/20W50, feel free to jump in!