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Not to be redundant as in some of the prior posts, the conventional wisdom is to do an engine oil analysis as part of a survey of the engine. It is, however, essentially meaningless, as a stand-alone result. To be of any real use in determining engine integrity, it has to be done on a routine basis such that any trend(s) can be observed which would be the only significant indication of engine problems.
You will find many people who believe the inaccurate marketing of this analysis or just don't understand the chemistry of an engine which is wearing improperly. It is both misleading and a waste of money to do an engine analysis unless you have multiple previous analyses with which to compare it.
I could go into the years of experience I've had with this hype, the lack of QC of various labs which do these analyses as well as their lack of precision and reproducability of the results and the meaninglessness of the results, all of which is pretty boring so I'll save that if anyone cares for later.
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