Food for thought. I found this on the GM Truck forum last night. I found it interesting enough to share here. (Posted by some other guy, not me)
Start guote.
"I had similar issue with my 2005 Suburban 1500 270k miles. On cold starts, the oil pressure was very slow to rise and would cause the oil light to come on. Once at operating temperature, the pressure would stabilize slightly below normal at cruise RPM. When the engine was still below normal operating temperature, the pressure would drop off very low at idle RPM to the point that the engine would begin to knock.
Based on everything that I have read, I have a worn O-ring on the oil pickup tube.
Here is what I did and the problem has completely gone away.
The o-ring is above the oil level. When the oil is cold and thick, the oil pump would suck in air around the o-ring rather than suck oil up the pickup tube, causing the very low oil pressure on cold starts.
I simply changed my oil from 5w30 to Mobile 1 0w30. The 0w allows the oil to flow much easier when cold, allowing it to be sucked up the pickup tube rather than the pump sucking in air around the worn o-ring.
Go figure. It worked! The oil pressure is perfect now, even on cold starts."
End quote.