You need to buy a code reader and reset tool. Not only will it reset the check engine light and read error codes, it resets oil service indicators lights and inspection lights. Get a Bently Manual while you are at it. It sounds like someone did not reset the lights at your last oil change, if it was only 1,000 miles ago - did you do your own oil change? (or do you only drive 1000 miles a year?)
This is a 11 year old car. You can't be calling the dealer every time a dashboard light goes off. Get the code reader and manual, and find a good independent BMW mechanic. Dealers are for fixing fiddly warranty repairs on new cars. The Bently manual will tell you what preventative maintenance you need to do on these cars (brake flushes, radiator flushes, etc.) as part of the "Inspection I" and "Inspection II" protocols.
BMW Brand Motor oil from the dealer is Castrol Synthetic, and it is what BMW recommends (newer BMWs have this written right on the oil cap, or at least my E53 does). Any good quality synthetic (Castrol, Mobil-1, Volll Synthase) should work well in these cars. I change annually, about every 5-7K miles with Voll Synthase 5W40. Supposedly, you can go as long as 15,000 miles on a good synthetic, but I plan on keeping my cars.