About a month ago ( 1500 miles ), I purchased a Corolla CE. After driving 30 miles/ 30 minutes to work I noticed the same sort of ticking noise. I was concerned enough to pop the hood and check the oil, and check it again before heading home. Oil level was right on the mark. ( I was feeling paranoid after discovering that the dealership had inflated the tires to 45+ lbs instead of 30. )
I decided, as has already been suggested, to go with a synthetic oil at 5000 miles. I was lucky to hit a buy one get one free sale and bought three changes worth.
Crossing my fingers and hoping for the best. Hoping to join the 200K club in about, oh, 8 years!