Mine reads one quart low with 11 qts. On my first oil change, I started after leting the truck sit overnight, I then jacked up the truck & drained the oil. While the oil was draining, I rotated the tires, and since the truck was brand new, I spent quite a while laying on my back on the creeper, just checking everything out. The drain plug was probably out for over an hour, and the truck was cold, so I'm sure I got every bit of the oil out... it wasn't even dripping when I put the plug back in.
I measured out exactly one quart of Delo from one of my gallon jugs, pre-filled and installed a new Fleetguard filter, and added the remaining oil to the crankcase. I was being very cautious, didn't spill a drop, and was very meticulous about the measuring and such (y'all know how it is with a new vehicle). When I was done, I started the truck to look for leaks, drove to the parts store to recycle the old oil, and came back home. The reading on the dipstick was right at one quart low. It's been this way at every oil change since new... I've thought about just dumping in all 12 qts to eliminate the minor hassle of measuring out one quart every time, with the capacity of the pans on our engines, one qt. probably wouldn't raise the oil level enough to cause leaks, cavitation, or any of the typical problems caused by overfilling. Anyone else have a dipstick that reads low?