I'm on my way out the door to the track (we're racing tonight), so I'll give you a more thorough reply later.
If your gauge is electric, it doesn't matter how fast the needle drops when you shut it off, because you're killing the power to the gauge. You need to get a mechanical fuel pressure tester gauge ($30 at Sears), and attach it to the schrader, and use it to test and diagnose. I suspect that half your problem is the gauge, and/or it's circuit.
I also suspect you're pressure is bleeding down too fast, which is why you have hard starts. Off the top, I suspect the regulator, but testing can ID it for sure.
You could switch to Mobil 1 if you wanted to. That's all I use.
More later...
Take care,
~Chris
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