OK. So I opened the bottom of the engine yesterday...
Sure enough, that stupid spacer sump to block gasket was blown.
Slapped a new one and everything is tits now.
Engine noise is gone and no more blinking oil light at idling.
Not a hard job to some that know how to wrench, just time consuming...
I did it with the bike on the ground but you'll need to secure it up straight as the side stand has to be loosened due to 2 bolts going to the spacer and to get to those bolts, you will have to remove the left exhaust pipe (very easy to do).
On the other side, you'll have to remove the 2 lower bolts that secure the oil cooler to the spacer sump.
Didn't take many pics but I'll post some later...