The "weight" of the oil used should be determined by the climate in which you're operating the vehicle, so start by determining what your manufacturer recommends for your vehicle in your climate.
Here in Guyana we're see 70~90+*F year round, so I run 10W40 - currently Valvoline premium conventional - and change it every 3000 miles; transmission, transfercase & differentials is 75W90 Mobil1 synthetic. The reason I won't run a synthetic in the engine is that it's operated under what Suzuki considers "harsh environment" and the recommended change interval is 3000 miles, so I see no point in using the synthetic when I can't benefit from the extended change interval.
Oh - with regard that "not using synthetic in a high mileage engine because it causes seals to leak" - just an "old wives" tale. Back when Mobil1 first hit the market, that's what I was told by the Mobil1 rep here - back then I wasn't prepared to pay the price, but since then I have done my own tests and switched to a full synthetic oil for a year, before experimenting with varying synthetic blends, and then back to a conventional motor oil - never had any problems with leaking seals.