No I don't do oil analysis, or dyno testing. As you say it can get expensive, and in my situation. not needed. I have only had two engine oil related failures in about 50 years. One was in my early days of slant six racing (cured by using full groove main bearings) and one was about 1 month ago, due to running the engine out of oil. (my own fault). I have done back to back drag strip runs with different viscosities of conventional oil. My 170 slant six engines turn between 6,000 and 7,000 rpm (depending on the engine) and have no problems. I have two vehicles I purchased new, back in the mid '80's still running fine. One has 412,000 with only a timing set change. The other has almost 200,000 and has never been opened up. I maintain, with the early engines (almost any make), if you keep the oil/filter changed, and the oil meets or exceeds API specs of SF (which almost any multi grade oil will do) Why waste money. I get my hair cut, I don't pay for a hair style.
All of that said, if you are running a "newer" type vehicle, or really extreme conditions, then yes, you need better.