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Are we talking air bubbles or water droplets? We all assumed the symptom you're seeing was a frothy milky oil indicative of water being blended into the oil. That's what I saw all those years ago, a tan milkshake. I still see it sometimes on any dipstick I pull. That long dipstick tube, external to the engine and on the front (cold) side is prone to gather a tiny bit of condensation, mix with the oil, and leave a trace of frothiness along its length. Nothing to worry about there, IMO.
If, on the other hand, you're dealing with persistent water in the oil after changing it or after long drives, then I agree with you that the oil analysis is a good idea.
Best,
Will
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