I didnt have any other symptoms, no knocking, coolant missing or milky oil. I installed a new sending unit and it seems to have fixed the problem. The check engine light never came on, it was the check gauges light.
Gotcha... I miss-read that one. Glad replacing the Sending Unit took care of the issue.
On my old '96 XJ the oil pressure would bounce all over the place... replaced the sending unit about 3 times over a period of 6 years... and sooner or later the replaced SU would start to fail.