Last year my oil light started flickering and I thought my bearings were going out. However I changed them and they looked good. The light is still flickering though at any RPM below 1100 once it is warm. Oil pump?
http://www.shopowered.com/images/hosted/oil-light-flicker.mp4
http://www.shopowered.com/images/hosted/oil-light-flicker.mp4
? Or you could install a real oil pressure gauge to get a read on the situation.