bryanmenard wrote:The oil light is a low pressure light, not a low oil level light. This is clearly explained in the manuals - both owners and service. Low oil level would trip a VVT code (Service Engine Soon) before oil pressure would drop to critical level, in my experience. I have a ScanGauge mounted in my car so I can pull codes instantly so it's not a big deal for me to do on the fly. My 2003 had a major oil leak and I had to drive it for a few weeks with a major leak before I could have it fixed so I got very familiar with how it works.
The car needs far less oil than its capacity to run fine, well below the low marking on the dipstick, so don't freak out but keep it topped off and check it often until you know the source of the oil loss. Check it after every drive and keep it topped off.
Yes, the oil light is a low pressure light, and it will come on at a pressure above 0psi but below normal idle psi (whatever that may be).
Either way, if the oil pump is being starved, you can bet your bottom dollar that the oil pressure will be okay and then drop off to 0psi as nothing but air is sucked up. Keep in mind, as the RPM increases and side forces on the car occur, the oil sump an easily be starved if it's below it's normal level - not to mention way way below.
Everyone, check your oil level every time you fill up the gas, every Sunday, or some other reasonable interval. Going months without checking is ludicrous. The BEST way to stay ahead of maintenance is to notice something isn't right LOOONG before it gets to such a situation. Additionally, kind of related to the OP's initial thoughts, I always inspect work done at a shop or dealer before handing money over. Always.
I'd still be looking at a new engine or a new car, OP.