The oil pressure light thing has happened to me a number of times on my 97 Sport 1100i. Always when the oil level has dropped some, the engine is warm, and I've just come to an abrupt stop or accelerated reasonably quick. 52,000 miles later the engine is fine with no sign of deterioration caused by these transient readings. Certainly, the drop in pressure is not nearly as serious as the lack of pressure on the bearings when first starting the bike up.