Hi erik,
I was in the process of just finishing up a l o n g reply to your post and somehow lost the whole thing, so if two of them show up, it's because I fumble fingered something along the way! I will attempt to recall what my reply was:
of course a synthetic dealer or representative will say that their product runs cooler, gives more protection, etc than the common petro stock oils in the market give, and in a lot of cases, that might be a true statement. However in the last 23 years in the business, I have found that synthetics do not match the kind of protection that you get from using a high quality product such as from swepco (what else would you expect me to say?).
Redline oils are true synthetic oils, royal purple makes both true synthetic and polyalphaolephin (pao) oils, which are otherwise known as "semi-synthetic." royal purple is still a relative newbie in the field, they started out making synthetic compressor oil and went on from there. Red line has always been associated with "high-performance" applications such as in racing. I am really not a fan of synthetic oils when I have seen the difference in using them vs. Swepco products, but (and I'm being honest here) if I had to make a choice between using different synthetic Products, I would probably choose red line.
I can tell you from personal experience and testimonies from users, that we have outperformed redline, royal purple, and just about any other oil companies "synthetic" products with results such as lower operating temperatures, better parts protection (longer life) and seal compatibility. I have redline dealers who purchase swepco products in certain applications because they have found the same results. Whether it is engine oil, or gear oil, we have always come out on top. I now have two major racing teams who used redline, one in their engine oil and have switched to swepco 306 - 20/50, and the other in the shockproof gear oil, switching to the swepco 210-80/140, both have made statements to the tune of "that oil is incredible."
as far as comparing the valvoline "85/90" gear oil you mentioned, as far as I know, valvoline does not make an 85/90, maybe you were getting that confused with an 80/90, which they make two different oils, one a petro stock, the other a semi-synthetic (pao), or 75/90 which is listed as a "full synthetic" oil.
I would go up against any of those with either the swepco 201-80/90 or the 210-80/140 gear oils. The 201 was made famous for use in the troublesome porsche transaxles, and putting the 201-80/90 (otherwise known as blue goo), straightened out the notchy shifting problems as well as lowered the heat. However, for customers racing those machines, I still recommend the 210-80/140 as it is a "true multigraded" gear oil and will cover the recommendations for the following weights: 80/90, 90, 85/140 and 140. I have also recommended it for applications calling for the 75/90 synthetic oils and it has excelled in all of those. The typical results would be lower operating temperatures, longer parts life and better seal compatibility. Another application the 210 is noted for is in sand buggies where they typically use a modified vw bus transaxle. They are very susceptible to failure and the 210 does a great job.
I might have gotten off the subject a little, but once I get going, it's hard to stop!
Hope that helps.