How's this scenario sound:
It may be the oil pump pickup screen getting clogged. When you rev it up it sucks more oil through, causing particles to wedge harder into the screen causing oil pressure to be erradic. I had this problem with a 318 once. The guy I bought the truck off of thought RTV Blue was supposed to be used in 1/4" beads on EVERYTHING. The screen was so plugged you couldn't pull the sh!t out of it. Needless to say it thrashed the engine a couple days after I bought the truck.
Before you drive it any more find out what the hell it is!
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Project: 1988 Coupe - EFI 5.8L Twin Turbo with Victor intake, Canfield heads, F303 cam, March aluminum underdrive pulleys, TKO (or T56 if funds permit), PBR twin piston calipers and 13" rotors up front, 94 Cobra rear calipers and 12" rotors on the rear, 3.73's, Griggs K-member, tubular front control arms, torque arm and panhard bar, polished 99 Cobra wheels.
"The GR-40 kit installation is now complete, and the humble Fox-chassis car will now out-corner and out-stop a ZR-1 or a Viper, and support massive horsepower additions with perfect balance."
Griggs Racing
ICQ# 42269241
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