I can do without the oil pressure light better than without the trip meter.
I check the oil level often. If my bike gets oil starved along the road, there will be no avoiding that. I don't ride looking at the idiot lights all the time. If it is lit, I won't notice.
My impression is that it is there to avoid lawsuits, more than to serve a useful purpose. I always thought about connecting a buzzer to it, but the idea of hearing the buzzer as soon as I switch the ignition on mad me give up on the idea. I could devise an electronic circuit that turns the buzzer only when the light is on AND the engine is running, but that was too much hassle.
I would have kept the trip meter and put a LED anywere in the top triple tree to signal the neutral. Apart from that, the mechanical adaption you have done looks very well done!