I'm planning to do my first oil change at approx. 500 miles. Should I use 5W20 or 0W20? (don't know if this is a dumb question but is 0W20 synthetic?) When should the switch from regular to synthetic take place?

I own a 2007 TCH and have already 1000 miles and will not perform the first oil change until close to around 4000 miles as I have heard the first oil is special to help the break-in of the engine and have dirven it extremely careful no sudden start/stop and not above 70-75mph. I believe the 0W-20 comes only as 100% fully synthetic (i.e Mobile 1 0W-20) but I am not 100% sure.

I already have bought 8 qts of 100% fully synthetic Mobil 1 0W-20 from Wal-Mart ($5.92/qt before tax) as I do my own oil changes for many years. I hope this info helps...

Are you using regular or synthetic? If you switched from regular to synthetic, at what mileage did this take place?

By 2-3k I have put in Synthetic on every car I have owned for years. Typically the dealer give first oil change free, so I take them up on that usually at 1K, then at 2K I do another and put in synthetic. Then I do whatever the car calls for after that or slightly less miles. So on the TCH I will do it between 4k and 5k intervals. I use Mobil1 0W20 and Mobil1 filter!
Been doing this for 12+ years.