Taurus mortus est?

Last night, we were coming back from our great adventure, and my oil light came on and the car started making a racket. I stopped immediately, then took advantage of my AAA Plus membership and had us towed back to Lexington. I checked the oil, and it wasn't reading on the dipstick, so I put in oil until it was nearly full. Someone suggested running the car so the oil could circulate and I tried that, and the knocking got better, then got far worse, so I turned off the car and let it sit overnight. I tried again this morning, and the worse sound went off immediately, then the car died. So the question now is whether my engine is now a giant paperweight. I need to check with my stepfather to be sure, but my past experience (I've had several cars in the last few years die sad deaths for one reason or the other, had one engine rebuilt and another that died when the mechanics who "fixed" it didn't put oil back into the car.) This sounds just like that last one...so, I'm back to being a pedestrian and bus rider again until I can save up enough money to fix or replace the car. :( Poor little car, and the sad thing is, I usually check the oil before going out of town and didn't this time; if I had, it could have been avoided. Apparently I had a leak somewhere. Sigh and grrrr.