Look at the plugs, that much oil will turn them black and/or wet. IMHO, break-in takes much longer than 500mi, and what I mean is that the rings take longer than that to seat correctly. The harder the rings, the more miles they take. I've found that 10,000 mi is sometimes needed.
As a comparison, my newly-arrived 91 iS had 103,000 on it. I drove it till 105,000, and changed oil & filter, with Castrol GTX 10w/30. I put in 5qts., about 4 tenths-of-a-quart less than capacity. Dipstick showed about a half-quart low after change. I left it that way, rather than break open another quart. Now, there is 109,500mi, and the dipstick says add a quart. It gets changed tomorrow. So, that equates to 4 tenths-of-a-quart of oil used in 4500mi, and I consider that to be outstanding.
I would certainly fix what leaks you find, you could be losing more oil than you think. I have not done much more than slight experimentation with synthetics, but I heard many mechanics say that a new engine should be run in for at least 10,000mi on a good quality multi-grade detergent oil, before switching to synthetic, in order that there is enough friction in the bores to cause the rings to seat. I no longer drive enough miles to make the synthetics' extra cost worthwhile.
