Hey, I just found this thread. It is fascinating. Especially since this engine is nearly identical to the engine in my Montero's. I would like to give my opinion on what is happening. First off, as far as my background I am a Mechanical Engineer and I design industrial piping systems, so I know a little bit about pumps and pressure drops. That doesn't mean I am always right, but since I am an engineer I love to argue technical stuff.
First of all when someone said that the "pressure goes backwards from the engine to the pump" that is correct. If you look at the entire system, you know that at the discharge of all the oil galleys/bearings etc. the pressure (psig - gauge pressure) is 0 psig. Now lets say you go just upstream of a main hydrodynamic bearing oil hole. The oil in that hole has some pressure which is dependant on the resistance it sees to squirt around the bearing surface. When the oil is more viscous the pressure will be higher, when it is les viscous the pressure will be lower. When your bearings start to wear away the pressure will be lower than when they were new. Also, if you increase the load on that bearing (revving the engine, going up a hill) the pressure will increase. Under load, the crank gets offcenter a bit making it harder to squish the oil past the bearing. Now, since the pressure has increase at the discharge of your lube system that increase propagates back through the system to the filter and finally to the pump. It happens quickly. If the fluid was incompressible it would happen immediately, but since it is a bit compressible there is some lag which is why the pressure increases on the filter POUT first, then the pressure increases on the filter PIN gauge. This describes what happens when Gary "blips" the throttle. Does that make any sense?