ive been dealing with an oil pressure issue myself so i will gladly share what my plan of attack has been...
first off, the idiot light is pretty reliable in these things.
-dumb question, but hows your oil level?
-does it 'knock' cold? at temp? higher rpms?
also, i would recommend an oil pressure gauge first and for most, gotta make sure you at least have oil pressure. around 25 psi at idle is good, 40 psi around 2-2500 rpm is what your looking for.
another good easy thing to try is to pull the sump off and clean it out along with the oil lifter pipe/screen. that was wicked clogged in mine, and that will drop your oil pressure big time.
let me know if this helps and what you find out.
chad
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