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Oil pressure has always indicated 60-80 p.s.i., regardless of temperature, r.p.m., etc., since I purchased the car about 4 years ago. Took the lazy way out and ignored it until the sending unit went bad. I figured that was my problem and got a new GM replacement unit. Same readings.
Finally got a mechanical gauge, and, sure enough, it read 40 at idle, about 55 at 3500 r.p.m.
Checked the circuit resistance at idle and it was abou 150 ohms. My friendly local E.E. gave me a starting point of 150 ohms resistance to try. It took a 330 ohm resistor going from the sending unit to ground to correct the gauge reading. Anything to keep from having to take the gauge panel out again!