In my 95 the oil gauge reads all over the place. One time it will be at zero and the next it will be pegged. I have replaced the sender as well.
Also note that on several years I think that the sender is actually a switch that "turns" on at like 4 psi or so that may be why you get zero under 900 rpm and 50 psi later.
(On my 351 with an real guage I have maybe 10 psi at idle and 50 when revving.)
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