Only happens at idle with brake in any gear position. If I raise above Idle it goes up a bit.
It would probably be worth the time and effort to (at least temporarily) install a mechanical gauge. That will allow you to compare the actual oil pressure - as indicated by the gauge - to what the dash indication shows.
There is a 1/4' pipe plug in the block about an inch above the oil filter flange. The passage behind it is the outlet from the oil filter. It is a bit of a pain in the ass but, you can replace the plug with a nipple and a 90. Then you'll always have a port to measure actual oil system pressure.
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As engines accumulate miles, the bearing clearances increase and even a new oil pump in unable to develop the pressure it did when the engine was new. A lot of people freak out if their oil pressure isn't 45-60 psi, but truth is - the actual GM spec for a SBC is really quite low. Ready....only 10 psi at idle - well not really idle, that's at 500 RPM:
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Understand that the pump is still operating at capacity - (actually it's moving more oil as the bearing clearances increase) - and the bearings are still getting an adequate supply of oil for lubrication. The bearings generate their own pressure (the pressure in the oil wedge of a automotive journal bearing is well over 1000 psi). All the really need is a steady supply of fresh cool oil.