Generally a good multi-weight oil is the best option. That said, it is not true that a straight-weight oil and a multi-weight oil behave the same at the same temperature. The multi-weight oil has viscosity index improvers added to allow the oil to flow differently at different temperatures. These additives are easily sheared by the piston rings, reducing the viscosity of the oil on the cylinder wall, thinning the multi-weight oil along the cylinder wall (we are talking about a very small amount of oil on the walls being sheared and thinned with each stroke). A straight weight oil does not have the VI improvers and does not get sheared to a lower viscosity by the rings. What does this mean?
With multi-weight: In most cases it will mean better cooling and less cylinder wall drag, as the sheared VI's locally around the rings thin the oil out, produce less piston resistance, and cool the rings better (particularly the top ring).
With straight-weight: Less cylinder wear, probably hotter rings, and more drag from thicker oil along the rings. Less oil consumption. It does not shear down to a lower viscosity within the local area of the rings.
So, use multi-weight, unless you find that you're consuming more oil than you'd like. In that case, use straight-weight, and you will likely see less oil making it by the rings, and thus lower oil consumption.
For small engines (lawn-mowers, etc), I generally run SAE 30, and have definitely noticed reduced oil consumption compared to 10W-30. With the rental airplane 172 fleet, I ran multi-weight.
SAE Technical Paper 910742 goes into this with far more detail.