The key difference between "standard" Mobil 1 and Mobil 1 High Mileage is a higher proportion of phosphorous/zinc, 800/900-ppm vs 1000/1100-ppm. Zinc and Phos are the main components of "ZDDP".
The extra ZDDP is of interest to those with engines having flat tappet camshafts. If you have a roller cam, you don't need to worry about extra ZDDP unless the roller cam is part of some very exotic racing valve train.
As for the LT5 engine, it doesn't need any extra ZDDP either. Yes, the LT5 has flat tappet cams, but the engine has overhead cams directly acting on bucket tappets, not flat tappets working pushrods and rocker arms. The valve spring pressure in an OHC application is a lot less then in a pushrod engine so, even though the LT5 had flat tappet cams, because the spring pressure is much lower, the amount of ZDDP needed in the oil is less.