40 once fully warmed up is good......mine is about 70 or so driving

The 97 is about 30 fully warmed at idle in gear and about 65 cruising along.

You should have 10 psi for every 1000 rpm for proper protection.
5000 rpm = 50 psi
1000 rpm = 10 psi

Usually one guage is faulty but two at the same time :?

Low oil pressure = higher friction
Higher friction = more heat

Well, my grandfather'* guage has been showing these low pressure reading ever since my grandfather got the car, but if the oil pressure should be around 40 psi or so when idling, then I guess the seafoam did help. I think I'll do it again. But his pressure doesn't go up as the rpm'* go up, so at 5000 rpm'*, his pressure is still around 30 - 40. Still, I think its ok, I mean the car is not new anymore so a certain amount of wear is expected. But yea, to the original poster, pick up a can of seafoam, around $5, and pour 1/2 into your crankcase, and 1/2 into your gas. It'll probably improve your oil psi like it did with me.