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As far as the little bit of knocking at idle, most neons shake and knock to some extent, they all seem to have a rough idle. I am guessing that when the oil light came on, you were going around a corner to the right? Did it go off right away after the corner? If so, that means your engine oil is a little low, and when you turn right, the oil sloshes to the left away from the oil pump pickup, causing temporary low oil pressure. Top up your oil and you will be good. That may help your slight knock a little bit too.
My neon misfired and threw a check engine light when I got it, was a plug wire. Do your brakes drag? How tight do you have your rear drums set?
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