Preheat the oven to 400° F. Drain the sun-dried tomato oil out into a 9x13 inch baking dish. Add the olive oil, basil, oregano, parsley, dill, and a pinch each of red pepper flakes, salt, and pepper. Toss in the chopped sun-dried tomatoes, olives, pepperoncini. Add the dry pasta and toss with the oil, making sure the pasta gets fully coated in oil and herbs. Pour over 2 1/2 cups water. Stir to combine. Push down on the pasta to submerge it. Add the mozzarella and cheddar, then layer on the bell peppers and parmesan. It will seem like a lot of peppers, but they cook down in the oven. Rub the underside of a piece of foil with oil. Tightly cover the baking dish with the foil, oiled side facing down. Bake for 30 minutes. Uncover and bake another 20-25 minutes, or until the cheese is melted and bubbly. Remove from the oven and top with fresh basil.