Well, I'm 53 years old, supported myself through college by street racing in the '70's, and I've built 23 vehicles from the ground up; other than that, I don't have any experience...
I say again: When you have a sudden loss of oil pressure/volume, you have a coupla SECONDS to react before your motor is deader than disco. If you just HAPPEN to be staring at your oil pressure gauge (and how many of you have overheated an engine - usually a LOT more gradual of a process - and NOT noticed your temp. gauge climbing 'til it was in the red) and have the foresight to IMMEDIATELY shut 'er down, you're golden; otherwise, you're SOL...
Just a "contrasting opinion" - if YOU think an oil pressure gauge is protecting YOUR engine, good for YOU! For every ONE guy I've met who can say he saved his motor 'cause he saw the low oil pressure on the gauge, I can think of a dozen more guys with oil pressure gauges who WEREN'T watching it when it zero-pegged...
Oh, and BTW, I did happen to offer something as a worthwhile alternative, that the OP might not have been aware of; an AUTOMATIC system - far more fail-safe. So keep your rocket in your pocket, please...