I was advised by several service techs to stay away from cheaps sensors at the local parts stores for pretty much the same reasons you just described. My '02 sport had the same problem but the sensor was faulty and oil was leaking into it causing the problem. Spent $45 for a new factory sensor and the problem hasn't returned.
If it were me I'd just replace the oil sensor with one from the dealership parts dept. and see what happens. Definitely want it to work correctly so that when it comes on she knows to pull over and shut it down or have it checked out rather than continue driving until something bad happens to the motor. Just my

.