The oil pressure warning light is pretty much useless. It's literally just a fault code if the signal goes low enough (so yes the dash light should come on if the sensor fails). From what I can tell it comes on at about 5 psi - if it comes on you'll be lucky if you haven't damaged the engine.
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2011 370Z 6MT Sport Gun Metallic | ARC | CJM | Ecutek | FI | Fujimura | R2C | SPL | Stillen | TWM | Z1 | ZSpeed |
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