If a small amount of oil remains, it probably will not harm anything mechanical, but it will emulsify and turn the coolant into some really murky stuff, and this will not be good for the coolant life. Once you've gotten out all you can, you may want to consider dumping everything, filling the system with just water and a suitable system clean out (Prestone makes a good one) and running the car until hot, then dump, rinse, and repeat one or two times to get rid of any residual.
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“Anything really new is invented only in one’s youth. Later, one becomes more experienced, more famous – and more stupid.” - Albert Einstein
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