If it has good pressure it may be ok. The biggest issue is that the bearings may have heated up and scored. That would likely show right away, but if they are roughed up due to friction they will wear pretty quickly. I wouldn't be too surprised if it lost a good bit of oil pressure in the next 50 hours. If that were the case you would get that rod knock.
I've seen bearings that ran low on oil ruin a crank pretty good, too. I would say if the pressure drops plan on doing the crank when you open it up. I'm of the mind that the oil light never comes on (or pressure drops) without some residual damage.
I guess if one ran the battery low and then it charged full steam for a while the VR might heat up enough to cause the problems you mentioned. Indirectly it could cause it, but directly there is no link between the two.
This goes without saying, but don't let this guy borrow anything of yours again!!! It wasn't your new car - it was a decades old tractor that needs TLC.