Help with Tire pressure indicator

[greenspanz]

Hii,

I bought a BMW 328i 2008 like 5 months back and the baby has about 5K miles on it. Its amazing....

But just yesterday, when i started the car, a Red indicator blinked with called for my immediate attention. Checking the manual told me - its either Flat tire or low tire pressure. But it said it could be either Red or Yellow in color ,which left me confused as to what might be the problem. Also when i actually drive the car with that indicator ON, it drives well due to run flat tires but the accleration just isnt there, i feel something is holding the car back.....

here are some more details:

Since its a weekend, the bmw service center was closed. I did not want to risk taking it to a mechanic or something since he might not understand completely. One thing to note is that i have never checked the tire pressure in these past 5 months. How often do you do it ? Also, I have run-flat tires - and all 4 tires seem to be okay atleast to the naked eye. But there is not enough accelaration. I will take it to the service center, but i am a little anxious so i am posting for a few pointers.

Anyone seen this before ?