Just be alert for sudden changes. It doesn't take long to figure out where an engine is happiest in terms of oil. My O-360-A4A has a max of 8 quarts (and a minimum of 2 quarts, which blew my mind when I first read it). She's happiest at about 6.5 quarts and will happily blow anything over 7 quarts all over the belly. As far as when you need to overhaul or switch components for new, I'm very much of the mind that you don't mess with something that's working well. The only things I think should be calendar/usage-based are filters, oil, and magnetos. Everything else should be done "on condition" if possible. For my money, if an engine is purring along with its usual oil and fuel consumption, count your blessings and fly on. If there's a sudden change in oil/fuel consumption, engine character (noise, RPM, vibration), or anything else raises the hackles on your neck, then go ahead and explore it. I'll be getting an engine back from LyCon at some point in the next six months and you'd better believe that I'll be far more nervous behind that engine for the first 100 or so hours than I was before it got pulled out of the aircraft. I'm far more suspicious of engines that have just had maintenance than those that haven't been attacked with tools recently.