Though cold weather will definitely raise your oil pressure at start up and soon after, it should settle down after the engine has reached operating temp. My pressure in my 94 HO used to be around thirty, but is back to 40 or a bit more now that I've recently replaced my valve cover gasket (though I'm still not sure how the two are related). If you are running that high a pressure all the time, I'd be worried about just about every seal in your engine as they can handle that kinda pressure for a little while, but how long is anyone's guess.
-Tom