If all it is a failing oil pressure sender, then sure no problem there. when i first got my ssei it had a bad sender. i didnt replace until maybe 6 months later. car ran fine up until then. but the sender itself is not expensive and if you can find your oil filter you can find the oil pressure senser, which means you can change it yourself. i would suggest changing it just rule it out as an issue. if you change it and your gauge reads normal then problem solved if not, now you know for sure something else is wrong.
2000 Bonneville SSEi aka "Eva"
"Everybody is fast in a Bonneville"