A qt. every 750 miles is not what I'd call normal. Mine doesn't move a drop on the dipstick between 3000 mile changes - about 70K miles on the bottom end. Dry as a bone underneath too.
Aliate - the numbers you refered to (10w40) are the viscosity of the oil - a measure of how it resists flowing. 10W40 is a multi-viscosity oil. At low temperatures (around 0 degrees) is flows like a 10 weight oil; at higher temps (around 210) if flows like a 40 weight oil. They were developed so people could simply run one weight of oil year round. Both synthetics and regular dino oils come in different weights - so, no - 10W40 does not mean it's synthetic. The W means it's rated for winter use.