From what I understand, Shell V-power is Shell's premium gasoline? See the Unleaded vs Premium thread to see the various thoughts & opinions on that.
On the synthetic oil topic: I calculated out costs quite a bit, and the cost of using Mobil's 15,000 mile synthetic oil compared with using el-cheapo oil and changing every 3,000 miles is almost the exact same cost overall. If you go with a synthetic and change less often, I recommend using a good oil filter, such as a Wix or K&N.
I personally use a Wix filter, and am trying out some cheaper synthetic oil (the Wal-Mart stuff, which actually meets higher standards, but may not have as many detergents) and a 10,000 mile change interval. I still have about 7,000 miles before the first change, so we'll see how it looks then.
Note when you go to buy your oil - look for the big jugs. If you have an S-series, you'll need 4 quarts to do the change, and the big jugs come in 5 quart bottles. It's good to have that extra around to top it off as the engine burns off a little oil (I'm about to add my first half quart or so after about 3K miles). The big bottles are usually cheaper - but compare first to be sure.
If you calculate out the total cost of using synthetic vs regular oil, be sure to account for how many miles you drive a year. I considered using AMSOIL, which is supposed to be good for 25,000 miles or a year, with a filter change halfway through. This would be the cheapest way to go IF I were driving 25,000 miles a year. I drive less than 15,000 miles a year, so paying extra for the AMSOIL would be a waste for me, when the Mobil 1 is a little cheaper and doesn't state that you need to change the oil halfway through.
The other part of the synthetic vs regular debate is the benefits of detergents. el cheapo oil won't likely have as many detergents, but will meet all the same official standards. If you use el cheapo oil, be absolutely sure to change it often, I'd recommend 3,000 miles.
On another note: I highly recommend AGAINST using Fram oil filters. I have heard of numerous occasions where they have come apart and parts of the filter element have caused damage to the engine. They're *probably* ok for 3,000 mile intervals, I'd strongly recommend against them for longer, but in general, I'd go with another filter either way.
If you're not bored yet, here's some interesting reading:
http://minimopar.knizefamily.net/oilfilterstudy.html