Thank you chengny for that detailed info. This is without a doubt my weakest area (schematics and carburetor). I tried to read book explaining the workings of holley carbs and it sent my head spinning. Your the first person to give me a direct proper answer to my problem. This I will learn.
I wouldn't waste too much time trying to completely understand the circuit. Maybe consider just checking the oil pressure
switch first - the one that has the two pin connector. Since your oil pressure gauge is working fine, don't bother looking at the pressure
sender - one pin connector:
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The
switch connector is kind of deceiving. The three leads (PNK/WHT, DK BLU & LT BLU as discussed above) enter the casing but there are only two sockets. The DK BLU & LT BLU are spliced and encased inside the connector:
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Anyway - sorry I got sidetracked - pull the switch's connector and insert a little jumper across the two sockets and note whether the CHOKE warning light goes away. If so, the switch is shot and - depending on whether you feel more comfortable with a illuminated warning for low oil pressure or if you constantly monitor your pressure gauge - you can replace it or just leave the jumper in. Also, if the jumper is left in, you will retain choke heater operation. Without it, the choke will still open - it will just take a while longer.