In my boredom of this evening and the issue of synthetics vs. conventional on my mind I did a little research. Mobile1 has a very informative FAQ section on their website. After reading there and several other places they all claim that it is perfectly acceptable to put synthetic oil in an older, higher mileage engine. But, of course they then recommend you use their even more expensive "high mileage" synthetic oil. If an engine is experiencing noticeable blow-by they suggest synthetic is still acceptable. To help with blow by they suggest moving to a higher viscosity grade...well Duh.
But, when you get to reading between the lines, or rather, through the sales pitch b.s. they kind of explain why synthetics may cause a formerly not leaking engine to leak. Synthetic oils have more detergents in them and have a higher cleaning ability. The theory is synthetics clean very well, so crud that was blocking a potential leak path in a gasket gets cleaned away, allowing oil to pass through. Also, the high mileage synthetics have "seal conditioners" in them to help prevent seals from leaking. It seems that synthetics, in some cases, can cause a seal to expand or contract depending on the material it is made of. I don't know how definitive that is, but, it was hinted at more than once.
All of the sources I found did suggest that if you switch from a conventional oil to a synthetic you should do a sooner than normal oil change for a change or 2. This is due to the higher cleaning ability of the synthetic oils. They admitted this can cause sludge to break loose and to prevent oil filter clogs you should change at least the filter after 2000 miles instead of 3-5000 miles.
Again, there can be definite advantages to synthetics. The issue becomes what value do you place on these benefits. At 2-3 times the cost of conventional oil is better lubricity and a little cleaner internal parts worth the cost? That is up to you, the condition of your truck, and how much/often you drive it. For me, the extra cost isn't justifiable since, outside of a severe mechanical failure, I will never drive this truck enough to actually wear it out.