Well I'm a Mobil 1 guy and have been since it was the first full synthetic oil to arrive on the scene. All that is about to end due to it's increasing price and decreasing availability. I've always used it's full recommended life span according to the manufacturer of the engine and currently run it for 15,000 miles in the MINI Cooper S and for 10,000 miles in the R3 and Mercedes. If I'm reaching the end of the season and still have some miles to put on the bike before the oil change, I feel comfortable with synthetics and will let it go another 1-2,000 miles past the 10k just so used oil doesn't sit in the bike over the winter.
I prefer thinner synthetics, 0-15 W30's. Overhead valve engines need that oil upstairs FAST, thick gooey oils don't pump to engine parts fast enough for me. Since most engine wear occurs on start up, I want the oil there ASAP with pressure build up a close second.
After your 500 mile service you will want to use a full synthetic oil and Rotella makes one don't they? I will probably be switching to Castrol or Amsoil, I was a Castrol fan prior to using Mobil 1 so the winner will most likely be Castrol for their synthetic.
The R3 uses A LOT of oil for a bike, 5.5 quarts. Any synthetic is going to be expensive and getting the full recommended mileage out of it is the only way to realize synthetics advantage over conventional oil. Changing synthetic out at 3,000 or 5,000 miles is a waste of oil and money, it will last upwards of 20,000+ with no significant loss of performance.
The filter however, will not perform it's function that long and must be changed more often for one the size of the one for the R3. The MINI holds 9 quarts and has an element filter three times the size of the R3's, it's engine is only 1.6L but is supercharged and modified. The oils main contaminant in the MINI is fuel, it has to be watched when checking and adding oil to make sure it isn't thinned by the fuel that gets past rings.
A quality filter is important and I prefer those with high volume bypass valves, but those aren't available in all applications. So it's the best quality you can get is my choice due to the length of time I use the oil.
There are alot of guys even here who can't force themselves to leave an oil in longer than 3,000 miles, even synthetic. If they have the money to change it that often, it's their bike and whatever makes them feel good about it is what the bike is for anyway.
That's just my take on it, it all comes down to what you feel comfortable with and as long as it does the job, enjoy the ride.