Albert-
I can't really comprehend what you mean by metal shavings. Metal grinding sounds (or is it??) or, my suspicion of a "dry, metal rubbing/scratching" sound typically signifies that your system isn't being "oiled" yet. You see, in order for the engine to work properly, one of the prerequisites during a cold start (or engine has been sitting for an extended period of time), it take some time to pressurise the oil system and I must tell you that the time involved before the system is properly lubricated (pressurised) is critical, IMHO. You can translate this to "how long it takes to lubricate your system before significant wear happens"....I would typically say no more than 3 secs max. (proper oil viscosity and ambient temperature) if the engine is new with tight bearing clearances and oil pump.
As the engine "ages" (e.g. bearing clearance increases, oil pump clearance increases, etc.)it will take a bit longer to get the oil pressure up.
Your intentional draining overnite with a new/fresh oil filter will cause your oil pump to loose prime, which means that by the time when the oil pump is sufficiently primed up, not only would it have to take on the responsibility of pressurising your oiling system but also the added delay in filling/pressurising the dry/empty oil filter you just installed.
Bottomline: never drain your oil over and extended period of time. Just do it in 15 mins time and be over with it (that does not account for the time involved in exchanging the oil filter). Also: immediately start your engine after it's been top up with fresh oil so as to prime your pump, pressurise the oiling system and also to fill up the oil filter.
Lastly, my take is that if your engine oil light does not go out in, say, >8secs, you are definitely doing something bad to your bearings (I mean crank, rod, etc. or sometimes referred to as "big end" bearings).
later.