Where is that gauge installed? It does not appear to be located on the standard instrument panel shown in the link from
@kloudie1. Find that gauge and see if it has a solid line, not an electrical wire, feeding it.
If all of the above is correct and the pressure on the gauge behaves as you have stated (drops slowly from 45 to 20 pounds as the engine heats up) and drops to 0 when at idle after that and the buzzer comes on that indeed, it is most likely you have a REAL low oil pressure situation. Two different indications, one electrical and one mechanical gauge both say you have low pressure - Believe your indications.
Thanks yes i agree - it does feel like its a real pressure issue but being that the guages are clearly suspect and theres a
chance that its solely a sensor issue of course i'll try adding manual sensor first such as you show - FYI the boat has a completely non standard panel with an oil guage and buzzer( with no RPM or hour meter :/ but yes i do intend to install). The thicker line people are suspecting is mechanical seems too flexible to be mechanical but i will confirm by removing the panel and inspecting the guage.
More background: Thinking back I cant help this relates to my second outing this year - somehow between my first day starting of the boat and the second, a lot of coolant had leaked out of (I now check this before
every start of the engine
). I ran the boat for 100 yards away the marina before spotting the temp guage was high (like, max) and the pressure guage had plummeted. The marina is in a ferry lane so i had no choice but idle back. The pressue read very low then and the engine just cut out when i changed to reverse - luckily we'd got a line to a bystander by then. When i nervously went to start the boat the next day i spotted the coolant issue but it seemed to start and run fine... perhaps until i next ran it for more than an hour at higher revs (i had run it a few times before this but dont remember an issue) when i noticed the pressure going lower. Now, I will say this... when you have an incident like this, its like a health scare. You tend to be hyper vigilant and end up with your eyes glued to the dials. Its entirely possible that the boat has
always started at 45 psi and then drifted down to the 30s - after all its expected that as the viscocity reduces due to heat the pressure reduces a bit. It may be that the problem just got worse after the incident or has always been issue. I also should add that the oil level read about 40% at the time- still well above the minimum, but i understand that lower oil levels do result in lower readings.
Final point: lets say i replace the guages and relief valve and confirm that the pressure is indeed dropping when load is suddenly reduced when at temperature - is the next step taking off the timing case and checking / rebuilding the oil pump? And if thats all looking perfect, is it possible a gasket is perforated somewhere or the block is cracked etc? Someone mentioned rods and bearings but that sounds like the kind of thing only a full rebuild would address, isnt it?