If your oil level light is coming on, you are more than a touch low.
I did a little non-scientific testing after I realized that the warning light was a level detector. At an estimated 2.5 quarts in the crankcase, the oil warning light came on. Three quarts in the crankcase turned it off.
I kindly advise to be careful before you blanket ALL those oil light cases as "oil is low". Not to stir this pot again, but read on for my own testing sepcifically because of this issue.
When I have my '07, I was startled on 3 different mornings with the oil light. Knowing I had 4.25 qurts in it from the oil and filter change about 800 miles before. Each time was when I started the bike, let it idle for a few seconds and rolled.
I then read some forum posts about letting the bike warm to 2 bars and put that into practice. I had NO oil light after the temp hit 2 bars.
So, as I was courious, did an oil and filter change. Purposely over filled it at 4.5 quarts. Which obviously is well about that 2.5 quart trigger point.
Couple days later, on 2 cool mornings, started it up, idle for a few seconds, and off I went. Each time about 1/2 mile or so, magical oil light appeared. Then went off about a mile(ish) into my commute. Kept going as I knew bike a was more that OK on oil level.
3rd and 4th mornng was actually cooler, but let bike get to 2 bars.... no oil light and was none since.
Don't know why, nor did I fret or bother to research it further.
Sold the '07 and advised the new owner of the warmup process.