I read a ridiculous number of discussions, articles, etc... about this when I bought my 4Runner. With so much conflicting info I tend to side with the camp that says "It don't matter".
That said, I ended up going with Castrol GTX synthetic high mileage oil. Not the type for high mileage engines, I mean the type for extended oil change intervals. And a Purolator 1 filter.
I'm pretty close to due for an oil change, and recently checked the level. It was still full, so yay no leaks, and I was surprised at the appearance of the oil. I'm used to seeing the oil be dark, mostly black, by this point. On the dipstick at least it looked as good as new. Completely clear with a slight amber color to it, like it was just poured from the can.
I used to use Mobile 1 oil and filters, and I've never seen oil look this good after 5000 miles. I don't know if this is a testament to the oil and filter, or if the engine is just really clean in there. I can say the oil that came out of it when I changed it the first time was not this clean, but I have no idea how long it had been since the last change either.
Anyway, I'm happy with this combo so far.