Comparing Apples to Oranges 101
Paraphrased from an article in the October 12, 2004 issue of Lube Report authored by David McFall:
Development of the Sequence IIIG engine test for wear control was a central issue in GF-4's progress. It was time-consuming, difficult and very expensive. Bob Olree of General Motors, who also chaired the group during GF-4's development, stated that the Sequence IIIG is a big improvement over the IIIF in almost every area.
In attempting to assess the wear characteristics of SM/GF-4 oils, consider the possibility that the stated results of the older IIIF sequence were a bit overly optomistic. To expand: SL/GF-3 oils may have not have been superior at all in cam wear compared to SM/GF-4 oils . The less stringent IIIF sequence just may have made them appear to be. By extension, it's just possible that had the IIIG sequence been available during the development phase for SL/GF-3 oils, those candidate oils may have looked just as crappy as the currently available SM/GF-4 oils in numeric data for cam wear, if not more so.