Thoughts on Low Oil Pressure

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My Car
1973 Convertible, Q code, 4 speed, 3.25, A/C, P/S
73, 351 4V Q Code, 4 Speed, factory gauge cluster in center console (including oil pressure)

My oil pressure today was really low at idle (near the "L" on the factory gauge). At 2,000 RPM it was in the lower 3rd of the safe range.

Oil level is fine. I changed it in the Spring - and maybe put 500 miles on it. I used 10W-40 dino juice.

I'm hoping this is a gauge or sending unit issue. Any thoughts about how I can test either? I'm happy to buy a new sending unit, just wouldn't mind knowing if the one in the car is indeed bad.

Thoughts? Or should I just buy a new sending unit?
 
73inNH, your factory "gauge" has a wide safe calibration because there is a wide range of perfectly fine oil pressure. 70psi is not "better" then 60psi and 50 is not "better" then 40psi.
As TommyK stated above, tap an accurate gauge into your oil port at the top rear block or the port just above the fuel pump mount. Let us know your actual psi reading.
 
You can check the resistance of the sending unit with a multi meter. Remove the connector from the sending unit, connect one lead of the multimeter to the stud on the sending unit and the other lead to a good ground on the engine block.
Set the meter to the 200 ohms position. With the engine not running the meter should read around 73 ohms. With the engine running the meter should read lower than 73 ohms, 10 ohms will mean the gauge should read maximum (be pegged). At idle the resistance will probably be around 50 to 60 ohms and decrease as the engine speed increases.
 
Just realized that my cheap Harbor Freight compression tester also doubles as an oil pressure tester (I think). I'll test it out tomorrow and post results.
 
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