The oil PSI switch is at the oil filter, so yes, thats the fist place the oil goes.
The oil pump has a by pass valve so if the filter becomes clogged for any reason the oil will still flow through the engine, just not filtered.
I have no noise at start up, even after she sits for 3 days and no noise when hot.
No oil consumption either, she leaks a little, but not much.
I go through 1 qt every 5,000 miles.

People can use whatever oil they want, this is what I am using until my next oil change, then its back to 5w-40 for the winter, then back to the HD-30 for the summer.