Heat oven to 400°F.
Lightly beat together eggs and milk in large bowl. Stir in bread crumbs until well blended; let stand until crumbs are softened, about 2 minutes. Add beef, onion soup mix, Worcestershire sauce, ketchup and black pepper; mix until well combined.
For free-form, shape meat mixture into loaf on foil-lined baking pan. Or, to bake in loaf pan, line 8-1/2 x 4-1/2 x 2-5/8-inch loaf pan with foil, leaving 2-inch overhang. Scrape meat loaf mixture into pan.
Bake in 400°F oven for 45 minutes or until instant-read meat thermometer inserted in center reaches 160°F.
Heat oil in large nonstick skillet over medium heat. Add onion; sauté 25 minutes or until softened and golden. Add gravy and pepper; cook 5 minutes. Serve meat loaf with gravy and accompaniments.