Was driving my 2001 S2K (67,000 miles) just now, and the oil light blinked on for a second. I was a mile from home so got back, checked the dipstick... nearly bone dry. I would say a couple of millimeters of fluid on the very bottom of the stick. My last oil change was 4k miles ago. Engine was not making any odd sounds. Tomorrow I will have the car towed to my dealer. I guess there is no way to tell if the engine has any permanent damage, or is there?? Does anyone else have the experience of reaching the point where the oil light came on?

Any comments, suggestions, ideas, input... all are appreciated.

 

If it blinked it means your pressure was lower than the threshold for a moment. I doubt there is any damage.

I would drain my oil and see how much is left. Even a litre is enough if the pressure is adequate, the problem is that with so little oil it heats up quickly and can overheat and lose it's lubricating properties.

The real issue is why are you losing so much oil and where. You should notice if it's out your exhaust pipe. You should also notice if it's on your drive way.