I still own my 1985 Chris Craft Scorpion which is 24yrs old with a 350/260 mercruiser engine. I have only used Mercruiser 25w-40 and filter as recommended by the manufaturer and have not had any issues related to lubrication and breakdown. This engine has never had an issue. I have also used mercruiser 25w-40 on my Carver Montego with 454 blue water inboards and never had any issue related to lubrication or break down.
With my current boat I will only use what is recommended by the manufacturer, Volvo. I use 13 gls of Synthetic for my 480 Volvo's at $28.00/gl. Do the math, But I sleep good at night knowing I am using what is recommended.
Here is some info from Mercruiser on lubrication.
What type of oil should I use? Can I use synthetic oil?
Engine Oil
To help obtain optimum engine performance and to provide maximum protection, we strongly recommend the use of the following oils listed in the order of recommendation:
MerCruiser / Quicksilver Synthetic Blend, NMMA FC-W rated, 4 cycle oil.
MerCruiser / Quicksilver 25W40 NMMA FC-W rated oil.
A NMMA FC-W rated oil.
MerCruiser / Quicksilver 4-cycle 25W40, non FC-W rated oil.
A good grade straight weight detergent automotive oil per the operating chart below.
NOTE: The use of non-detergent oils, multi-viscosity oils (other than as specified), non-FC-W rated synthetic oils, low quality oils or oils that contain solid additives are specifically not recommended.
This crankcase oil recommendation supersedes all previously printed crankcase oil recommendations for MerCruiser gasoline engines. The reason for this change is to include the newer engine oils that are now available in the recommendation.
Older owner manuals, service manuals and other publications that are not regularly updated will not be revised to show this latest engine oil recommendation. Current owners manuals, service manuals and other service publications that receive regular updates will receive this revised recommendation the next time they are updated.
http://www.mercurymarine.com/serviceandwarranty/mercruiserfaqs/fueloil.php