Thanks a lot to everyone for all the good advice, and sorry if I hijacked your thread, Aida.

This board is always such a great source of info, offered up by some of the finest folks anywhere. [smiley=thumbsup.gif]
Last weekend I was able to get a multimeter on the connector behind the left side cover, and after several tests in which we were able to light either the oil or neutral lights (not burned out after all), and start the bike without the clutch lever in, determined the problem must be at the neutral switch. All the wires and connections between the connector and switch appear intact, as do those at the switch under the tranny, so we deduced the problem must be in the switch itself. Although, Semper's new idea of checking the ground near the shifter needs to be done too. Thanks for that!
But, I guess the decision may be whether to spend the $$ and time replacing the switch, or just live with it as I've done so far, and as SCJJ did for several years before me. If I choose the latter, no harm could come from leaving things as they are, could there? And while I'm being all needy, don't suppose anyone has the BMW part # do they, so I can price one of the switches? Not exactly sure of which component this part would be considered.