On my old 87, the oil pressure dropped significantly about the same time as the, rear main seal started leaking. Always figured the mains were getting loose.
I did check the electrical gauge against a mechanical gauge, plugged into the spot where the sending unit screws in. The electric gauge/sending unit, was 7 + PSI low.
A new main bearing seal help a little, 10-50 synthetic oil helped some more. It finally stabilized at acceptable to a little low. Never seemed to hurt much, no lifter noise, knocks or other strange noises.