Absolutely, you need to be careful if you use the mechanical gauge to not let the tube rupture. For that reason, I use a copper tube not the nylon thing that comes with most gauges which can be melted or cut easily.
Also, even though the term "idiot light" for the warning lights like the low oil pressure light are often used and is a derrogatory term clearly, I beleive that the idiot light serves a great purpose, which is to get your attention. I know that I sometimes get distracted and don't check the gauges as frequently as I should.