Ok, short story first. Started the car up one morning and all was well till the choke warmed up and we kicked it down. Oil light came on. Turned the car off and checked the obvious first, oil was fine, no puddles under the car. Started it back up. Noticed that when I gave the car any throttle at all the oil light went off. So, figure we better check the oil pressure with a good gauge to see if what the oil pressure switch and light are telling me is true. Sure enough, 5lbs or less on the gauge. Give it throttle and it comes up to a respectable 40-50lbs of pressure. Logic would tell me that most likely that this would not be the pickup clogged in the pan right? Seems like it would always be low if that were the case? I have not checked the pressure relief. Didn't think it matched the symptoms based on what I read??
Based on what I've read and searched for here on the forum suggests the following. I plan on changing the pump in the car. Loosen the passenger side motor mount, put a block or piece of wood and jack up the motor via the pan to raise that side of the motor enough to slide the pump out? Looks like just to make things easier I might pull the dizzy out just so its not in my way.
Am I on the right track here guys. Any advice would be greatly appreciated to make my life easier.
,I had a simular oil pressure problem show up awhile back,had about 4k on complete rebuild when it happened.Check/cleaned/replaced all the usual suspects to no avail.Finally pulled the slant and did a complete(including head scratching)tear down and finally found a cam bearing that had spun and shifted.I'm sure it's your relief valve(thinking positive here)but just a thought to keep you awake at night.Sorry but I do tend to be that thing that floats in the proverbial punch bowl at times. 
