I think I can make an educated guess here
1. Faulty Sensor...maybe, but unlikely, it was an AC Delco part
2. Wiring...maybe, worth following the wires as Will mentioned and seeing if its pinched
3. Faulty gage in the dash...most likely.
The plan as it stands right now. First check for pinched wires. If I can't see anything then when I get my fuel lines replaced I will have the mechanic check the gage buy doing the electrical test as Will mentioned and go from there.
Right on the money jr...I wish I was a little closer to Florida, I need a 87-91 expert around here, with the proper tools and skills.
The mechanic told me that they might be able to fix my misaligned cam magnet for a decent price. I may just splurge and spend the $1000 bucks to get the cam magnet, new fuel lines and gage fixed.
After that, mechanically, she'll be top notch