Cheap insurance & piece of mind! I'm VERY glad I did it around 1200 miles and took out the first batch of metal shavings...
Did Chevrolet forget to put an oil filter on your engine? If there were metal shaving in the oil the filter would remove them.
You can change your oil ever 500 miles but that is not going to make it run any better or last any longer than if you changed it every 5,000 miles.
There is a very good chance the oil you are removing is better even with 5,000 miles on it than the oil you are replacing it with.