Mine has had Castrol Syntec for the past 17k miles (after the rebuild, with scored cylinders) and goes from H to L on the dipstick every 2-3 tanks (600-900 miles, depending)
I've come to accept that this will be how it is until I buy another car. I have picked up a 93 Escort GT that was treated poorly by the previous owner (as far as I can tell) and I will be monitoring oil consumption in that also. Curious to see how it stacks up against my P5.
I'm the 5th owner of the P5, so lord knows how the previous owners took care of it. Owner before me was a high school girl. When I bought it, if I left it for a few days and started it up, blue smoke galore. After the rebuild, far less smoke. Now I can only smell it (might be my knackered primary catalytic converter flange), but I smell it often now. Will be remedying that soon, hopefully.
How much did you rebuild? And I heard that synthetic is not a good break in oil.