Thanks all for your input. I think I'll skip the Techron method and dig right in to the meat of it. It all makes sense. That'* what it likely is... poor contact on the coil. As I like to say: If I can't fix it... it don't get fixed!
Thanks everyone for the spastic fuel gauge input. I got it fixed by removing the fuel pump, removing the float and contacts, dusting up the coils with 2000 grit wetordry and bent the contacts in to increase the contact pressure. Voila.... success! I gotta say though that removing the fuel pump was quite miserable as the plastic housing seemed to be larger than the hole it is mounted in. Lots of cussing and prying with various modified tools and it came out after about a 45 minute tug O war. Plastic must have swelled slightly from the gasoline.