ORIGINAL: sawood12
Nick, you're right in your interpretation of the oil viscosities however the 60 bit is when the oil is at 100 degs C so in reality is a bit warmer in the engine.
However not wanting to scare you I come from the school that you want as thin an oil as you think you can get away with and I don't see how your oil needs to get thicker as the engine clocks up milage. The oil lubricates bearings and the bearing clearances don't change with age - unless you have a problem with your bearings. I've never seen a car handbook for any make or model of car (or any other machine for that matter) that specifies a change of oil grade as the cars milage gets higher and higher.
I'm not sure what the best grade of oil is but i've got 5w40 according to the handbook and I have no oil pressure, leaking or other problems, i've queried the OPC and specialists and the likes of Opie oils and they all say that either a 5w40 or 10w40 is what they usually use. I have no idea if any other grade of oil would be better or worse but you will cause damage to your engine by choosing an oil that is too thick just as you will an oil that is too thin so we have no choice but to stick with the original recommendations for our cars.
For racing and heavy track use where oil temps are higher a 40 or 50 grade will thin down too much then you need to start looking to higher grades so you achieve a viscosity roughly equivalent to a 40 or 50 grade at the elevated temps and maintain protection.