Wanted some advice from fellow 3rd gen owners. My head gasket blew a couple weeks ago so I just finished getting a new set of heads and installing them. I noticed when I was breaking the new heads in at idle the oil light would flicker off and on. I preformed a oil/filter change after the rebuild. On my way home I gave the engine a little gas and lost allmost all power with a max speed of 35 with no check engine light Sounds like a lot of noise from the block and if I just start the car at all the oil light will be on regardless of rpms. Should I just try to source a new engine? Or get a block rebuilt?

 

Drain the oil and see what comes out. And if no oil comes out, that's also a 'result'.

 

Generally speaking, if you see your oil light you're supposed to shut down immediately. Oil pressure dummy light switches are set very low, usually between 0-7 psi, at which point you are probably doing damage if you continue to run the engine.
Like Jomoka said, drain the oil and look at it. That'll be your first step in diagnosing the problem. If it's silvery or if chunks of metal fall out, you have a serious problem.