Just today I purchased the oil for my 1000-1200 mile oil change. I got Mobil 1 10W-40 Fully Synthetic. I used Yamalube 10W-40 for my first oil change at 588 miles. The Yamaha filters appear to be absolutely "top shelf" but at $16.00 a pop I bought the SuperTech Walmart filter! I spent an entire day researching filters and this appears to be one of the best out there for nearly the cheapest price. (It's slightly longer than the Yamaha filters too)
I have been using Rotella T Synthetic and a PureOne PL14610 oil filter with excellent results. I previously used Repsol, but I can no longer purchase it locally.
Rotella T6 Synthetic (which actually isn't a true full synthetic, but if you're not racing I don't think this will matter, few "synthetic" oils out there are truly synthetic and not blends) is what I use as well.
The Purolator PL14610 gets top reviews/rankings and is like $6USD... but I need to cross the border to get them, so a bit of a pain. Any Canadian alternatives people know about?
PS - I spray paint my Purolator to match the bike, lol, such an ugly mustard colour!