I have a '99 Mustang GT that has about 75k miles and it's had Mobil 1 5w-30 all it's life, and a friend has been telling me I should go 5w-20 Motorcraft. What are your thoughts and opinions on this ? I kinda don't want to switch oils because it's had the same oil brand all this time, but I'd like to know if switching to 5w-20 (which I believe was recommended) will cause any leaks or whatnot since I've been using 5w-30 ?
but it's a fun ongoing project! 

You'll never notice a difference from one to the other. Change it regularily and rung a quality filter and it will last as long as any of the guys running the high dollar stuff!