Its good oil. Lacks friction modifiers though. B&S 5W30 Synthetic is up there with Amsoil as well and costs roughly the same per quart but is also much easier to find.
As far as a 40 or 50 weight oil Kawasaki K-Tech is a synthetic blend with a high zinc number and Amsoil also sells "Z-Rod" oil in the 10W-30 and 20W-50 weights which would work excellent in small engines since antique/classic cars and small engines rely on very similar additive packs. The latter Z-Rod oil also have friction modifiers unlike the purpose made 4-stroke small engine oil they sell. They keep it out of the 4-stroke formula so it can do double duty and be compatible with wet clutches which aren't too common in outdoor power equipment.