Scirocco 16v in distress!!! Please help!!

[rhock99@epix.net (Ryan H)]

OK, just got home after being away at school for a week, and started up my 16v... started fine.  After a few seconds, though, the oil pressure light started flashing.  I thought maybe it was just being tempermental (Sciroccos tempermental?  Nooooo.) so I let it be for a minute and it didn't go out.  Shut it off, checked the dipstick twice, and both times oil was waaaaaayy past the full mark (like halfway up the stick).  Any suggestions?  Is she on her way out?  1988 16v with 165,000 miles, rebuilt 40,000 ago.