EZ,
All it is really telling you is what is in the oil. This may be the conditioners etc. that are in "new" oil or it may be contaminents - metal, antifreeze, diesel etc. You want low to no readings on the contaminents, high readings on the conditioners (for lack of a better word) and low readings on the metals. Oil is there to protect the metal surfaces from friction. The higher the metal readings the less your oil is protecting.
Here is a breakdown.
Elements are quantified in the oil at part per million levels (PPM). This list shows the most common sources of the elements in a gasoline or diesel engine oil.
Aluminum : Pistons, bearings, cases (heads & blocks).
Chromium: Rings, a trace element in steel.
Iron : Cylinders, rotating shafts, the valve train, and any steel part sharing the oil.
Copper: Brass or bronze parts, copper bushings, bearings, oil coolers, also an additive in some gasoline engine oils.
Lead: Bearings.
Tin: Bearings, bronze parts, piston coatings.
Molybdenum : Anti-wear additive, coating on some new rings
(washes off as break-in occurs).
Nickel: Trace element in steel.
Manganese : Trace element, additive in gasoline.
Silver: Trace element.
Titanium: Trace element.
Potassium : Antifreeze inhibitor, additive in some oil types.
Boron: Detergent/dispersant additive, antifreeze inhibitors.
Silicon : Airborne dirt, sealers, gaskets, antifreeze inhibitors.
Sodium: Antifreeze inhibitors, additive in some gasoline engine oils.
Calcium : Detergent/dispersant additive.
Magnesium: Detergent/dispersant additive.
Phosphorus: Anti-wear additive.
Zinc: Anti-wear additive.
Barium : Detergent/dispersant additive.
Physical properties: Viscosity, flashpoint, % fuel and antifreeze, % water and insolubles are all measured in gasoline and diesel engine oils. If fuel is present in the oil, the viscosity and flashpoint will often be lower than what was stated in the "Should be" line. Insolubles are solid material that is centrifuged out of the oil. They are typically free carbon from the oxidation of the oil itself, along with blow-by past the rings.
>>Click Here<< for some explanations.
I think the goal of some people is to see how long they can leave the oil in with out giving them "bad" readings. In other words, my oil was great at 3k, next time I'll test at 4k, those results are good so I'll jump to 5k, Hmm, these results do not look so hot, OK, I can go 4k using the brand oil and filter I currently do with no bad effects. If you are completely **** and change at 3k come heck or high water, then just randomely test for increased engine wear or the big "C".