Thanks all, got everything resolved. Found out how to convert the oil pressure "idiot" gauge to an ACTUAL measuring guage via a new sender unit from an older year Ford (
http://www.rowand.net/Shop/Tech/Ford...reGaugeFix.htm) and the removal of a 20ohm resistor.
Found the part at Autozone for $10 bucks (1981 F150 any-engine), removed the 20ohm resistor and restored the old guage it to it's originally designed purpose - to measure oil pressure! Also put new teflon tape on all the threads and now have NO LEAK with a REAL GAUGE to boot. Happy as a clam.
P.S. Of course I can't see actual oil pressure numbers with the stock guage, but I know from other posts where on the guage equals what pressure and know what to watch for.
