Ok i know i have 206K miles on my car and im not sure if the oil pump is finally giving out. Im not the original owner so who knows if its the stock oil pump or not.
Ok when i start the car up in the morning when its could, oil pressure is half ways (about 40psi). When im driving it around for about 5-10 minutes the pressure drops to around 20-10psi during idle. Now when the engine is at temp (more then 45mins of driving) and when im at a stop or at idle, the oil pressure drops to 0 psi. Its hitting the red line and the "check guages" light comes on until i rev it up to get the pressure up. What could be causing this? All i know is when its cold at start up its fine, until it gets warm and sitting at idle

 

The oil pump is probably good, with that mileage I will bet that the bearing clearances have opened up especially on the camshaft. This will really affect oil pressure. Be prepared to pull that engine sometime soon.

 

yeah i figured i might be coming down soon to pull out the motor. Its just right now its my daily driver and my 383 is currently being built. It might be about 2 months until i get ready to put it in. I just hope that it could last until then.
You dont think that it could be something else? What about trying some thicker oil? Is there anything that i could use to keep the psi up?

 

You can always put an analog guage on it to make sure your oil sending unit isn't lying.
You can try some "engine honey" just to see what happens. Since it's on its last leg you have nothing to loose.

 

Agreed. Put some Lucas Oil Stabilizer or other additive in; also put in 20W50 weight oil. I have 2 1994 LT1's one with 157K and one with 133K and I have to put the above weight and additive in the one with 133K. If I don't the oil pressure will drop to nothing and the check guages light comes on. I replaced the oil sending unit on the intake/oil pump and pickup but no remedy. I just religiously change the oil, add what was needed and let it fly...runs great with no problems. Try it, what do you have to loose?