If you want to waste your money than by some fluffy dice as it does the same job as these things. They do nothing really for oil pressure except give false reading. As had been said earlier it looks like cheap crap bought from the local hardware store, there is a braided line one sold here in Australia but it's in the exact same category, plus external lines just gives something else to fail and being oil pressure it won't be pretty if it does.
Nothing more needed than a properly set up oiling system in the Cleveland if it's going to be revved past 6500 RPM and below that the standard system is quite adequate with a quart of extra oil like the Boss 351. I've proven time and time again that Clevelands live fine at 6500-7000 RPM's in such events like doing burnouts. Not my thing but that's what some are into, but being revved the ring out of it for 1 1/2-2 minutes doing donut after donut, whipped around in all directions and occasionally even revved higher than that and come out every time running fine. The only thing done to them where oil drain back mods and a decent sump, no restrictors, no special pushrods, basically stock oiling system. Actually built one for a guy years ago out junk laying around and revved that thing past 8000RPM with just my usual block mods including restrictors, with a great sump though. It actually revved to 9200 RPM when it hit a puddle of water. Didn't hurt it and kept running for ages after that. Of course the Cleveland has oiling system faults just like all 50 year old technology does, but that short coming was only found in sustained high RPM usage, like NASCAR and production touring car racing here in Australia. The oil system faults were either revving past 7000 RPM or during hard cornering, other than that the Cleveland is fine.