Depends on the car's condition, your goals, etc. Is 5W-30 the recommended viscosity? Nothing wrong with M1 but you can do as well or better for a lot less, like with Pennzoil Platinum. Some will say not to switch to synthetic at such high mileage due to leakage possibilities. Others will say with the newer Group III synthetics, it won't be a problem. You might consider a good synthetic blend, like Motorcraft 5W-30 or TropArtic 5W-30. Both are highly regarded here, are reasonably priced, seem to give excellent UOA's, and have some synthetic in them.
You'll get lots of different recommendations, but at only 5K per year, that's one oil change/year. Not much you can do to hurt your car in that little mileage, unless you're racing it.
K&N air filters have either a love/hate following. some will say too much contamination gets through, some will say performance is improved. For my money, if your goal is to keep it running as long as possible, you'd be better off with regular paper air filtration.
Pure Ones are excellent filters...lower flowing perhaps, but excellent in filtering the oil. You might consider Wix (Napa Gold is same)...they seem to get high marks here.
Good luck.