Sleek GT, I am in the same exact boat as you, mine reads tops, to the 1/4 mark and mostly stays at the L side of the gauge, lower than that at idle.
It was so low, that I questioned as you, the same things. I replaced the oil pressure sending unit, which did not change things too much.
I then went and bought a fairly inexpensive oil pressure tester, at the local flea mkt, cheap.
My psi at was at 50psi when I started it and raised to 55 psi when I got the rpm's higher.
At that point, I know the old calibration on the gauge must be off, or I somehow may have tweaked the needle when I repainted it during my instrument cluster refresh.
Either way, the mechanical oil pressure test gauge gave me reason to not worry about low pressure readings, if anything I am worried about it being borderline high, as it read on the accurate mechanical gauge.
Get the oil pressure tester, it will give you peace of mind or just borrow someones, it takes all of five minutes to check it out.
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