are you sure you heard your preceptor right about O2 sats? there is no indication to ever make a call on transfusing someone based on 02 saturation. O2 saturation has nothing to do with transfusion threshold. if they are at the point that they are desaturating, you are in deep ****. (and, if he/she actually said that, then he/she needs some remediation before continuing to precept students.)
it's more appropriately based on allowable blood loss which should be calculated prior to the start of the case. you should always have a threshold at which you will say, "now i'm going to transfuse." and, you can't always rely on being able to do intraoperative tests to help you make that decision.
for example, what if you can't get an ABG (which, in your example, is really for a stat Hct) or send a CBC because the labs down (or any other myriad of reasons when something could go wrong)? don't think this happens? HA!
point is, you should already have an idea about when you would transfuse before you induce the patient (for an elective case). and, during an expected bloody case, this is why you have to be extra-vigilant in watching blood loss as well as watching other clinical signs (continued tachycardia, hypotension, patient pallor, etc.). i can tell horror stories about myomectomies on patients with a baseline crit of 6.0 who were being transfused as we rolled them into the OR suite to start the case...
so, there's really no magic formula about when to transfuse - and, hence, no one single reference that will give you the information you're looking for. it is very patient dependent. and, depending on which studies you read, it is occasionally better not to transfuse at all. (but that can be a controversial subject in and of itself.)