We do somethng similar to this at work with our large refrigeration compressors. Very high filtration, moisture separators, etc. When you have a room full of $40K compressors, I guess it makes sense.
As was stated above, oxidation is going to be a problem regardless. Also, moisture contamination will still be a problem. around here, with our high humidity and large temp variations, you gets lots of condensation, which means that you still get corrosion in the motor, and the associated problems with rust and such. In addition to this, the additive package does wear out, and high filtration cannot fix that.
As I have said in the RP thread, My truck has run 193K miles on dino oil, and I have many other industrial engines that have very high hours (sometimes over 10K hrs) on dino oil with no problems. Most of these use a plain automotive type filter (I forget the Napa # I run on the Onans), and have NO problems after thousands of hours.
I have thought about using syntheics and high filtration before, but in the end it's not worth it (YOU try getting a 50 Yr old industrial engine That's still in use to stop leaking... I'll let you start with a 6-71 Driptroit
)
Still, I would be interested to see the results of adding a bypass filter and running synthetic on long term wear on a modern engine.