Larry, I didn't know you had a 203 chassis!
I think that the main problem with checking the oil s that it's a very subjective thing. If they "simplify" the procedure, the results can be very misleading. These new engines are very close on tolerance, you don't want to overfill them even a small amount.
The advantage to the electronic system is that the instrument cluster is given info on not only the level but the oil temp, and can calculate what the reading should be.