Sorry fellas, but Squidd is correct. Real nice that your alarm dosen't go off now, but what is the oil pressure???? You do not - cannot know unless you put a gauge on it! I'm sure it's a PITA, but is it worth trashing your engine?
Just sayin...
Every hose type oil gauge I have seen are scaled from about 0 to 100psi. The service manual for my engine specifies the pressure at idle speed to be just 10 psi with the sender to trigger at just 6-8 psi!
Therefore, any gauge I use will have that has a error factor of just 2 or 3 percent (of the whole 0 to 100 psi scale) will give me information that is misleading. I would expect this error to be much more magnified at the very low end of the gauge's scale... i.e. less than 10 psi; right were I need to be the most concerned! In other words, if I measure 10 psi on the gauge, the pressure might actually be just 7 psi, if there is a 3% error factor. (Once again, by percent error, I am referring to a percent of the total range of the scale, not 3 percent of the measured value, which I don't think is far flung assumption).
On the other hand, the sender which I bought to replace the broken one, is designed to trigger at 7-8 psi. If I assume the sender is functioning correctly, I know it should trigger if my engine's oil pressure drops below this number. If it doesn't trigger, I know I have at least 7 psi. This is the same number I could expect to see if I hooked up the gauge above and it was off by just 3 percent!
Now, I know the new sender triggers at 0 psi (engine off) and doesn't at idle speed. If it was off by say, a much larger 40% error, it would "measure" about a 3 psi difference, the same as a 0 to 100 psi hose gauge with a just a 3% error!
And, the new sender came from Kubota, the original builder of the universal engine, so I am putting my trust in it.
Also, the original sender, when I removed it, showed obvious signs of corrosion at the wire connection. The ring terminal was connected by a phillips screw which rusted to the point that I destroyed the screw head trying to remove the wire. So I ended up just cutting the wire instead and putting on a new connector. Just one more reason to suspect a bad sender.
ETA: for the TL;DR set:
Without a precision hose gauge designed to measure at psi ranges at about 10psi, a new sender is a more precise measuring tool than an off the shelf gauge.