John and everyone else that has responded, thank you all very much! I really appreciate the help you guys offer for my oil pressure issue. I really don't want this engine to grenade and I started to worry after I saw some seriously unnaturally polished camshafts and one pitted lobe that had developed since last valve check (every 3000 mi). (On a side note, I tend to run this engine continuously close to red line for hours at a time, but I am changing my gearing tomorrow to change that). I will get my gauge checked out and see if it still shows correct pressure.
I only added 400 mL of 5w-50 oil and my pressure went from 18 psi to 30-35 psi @ 4000 rpm. The sump takes around 1.4 L. I am optimistically looking forward to my next oil change when I will try running pure Castrol 5w-50. If the trend continues, I should be well in spec that time. In addition, since 5w-50 is within the allowed viscosity specification, that will mean good news to me because it most likely does not need a new pump. They do not specify which oil to measure pressure with. For all I know they can be using the 20w-50! Hopefully the gauge is accurate enough to register such a difference meaningfully. Thanks again!