"Sensible" depends on which engine, year, oil specification and specific type of vehicle use we're talking about. Most cars today, running a top line synthetic or conventional oil, recommend oil/filter change intervals of 7,500 to 12,500 miles. Unleaded gasolines, PCV and modern oil formulations are mainly responsible for that recommendation, and in some cases even THAT is generously conservative.
Even for an oft-driven city car, 3,000 mile oil/filter change intervals is a simple waste of money, time, and resources. Read up on the GM OLM and how/why it works - and works well.
........... a Yellow Cab, idling all day in NYC, will require oil/filter changes MUCH more frequently (mileage-wise) that a car driven from Maine to Florida twice a month. Slow, cold city use is murder on engine oil - exclusive highway use is the best for (mileage) longevity. My OLM will decrement much MORE during two weeks of local winter driving than it does from here to Central Florida in 2 days. I change my oil/filter in March of every year, drive (the car) about 5,500 - 7,500 miles in that year, OLM will be at about 45%, and the engine has used less than 1 quart in 7,000 miles since I bought the car in 11/05. (and, yes, the thing gets RUN quite often - no babying). The trucks run about 7,500 - 8,000 miles/quart, and oil/filter is done at about 8 - 9,000 miles (8 months) - the trucks both run 5W-20 year 'round.
Whatever floats YOUR boat ................. (remember - You and I were around LONG before anyone ever thought of "multigrade" or even SAE and API oil ratings. You probably remember the old Kendall Oil slogan "Kendall - the 2,000 mile oil !" even better than I........... Times [and oils] DO change.)
Quality oil - no Pennzoil ??? Where does Shell and/or Quaker State rank in your "Quality Oil" standing ?