Hmmmm... I've never had, nor heard of a problem like this before. So the following is mostly speculation...
Think the oil pressure idiot light and oil pressure gage operate off the same input signal (same sending unit and wiring).
If I had the same problem, I'd take the gage off, and inspect the PC board (I think) it's mounted to. Look for broken conductor traces, or something shorting to ground.
Looked at the wiring diagrams, and didn't (yet) find anything that shows how the oil idiot light works. Think there might be a comparator in there, but don't know. I'll keep searching, and keep you posted.
[This message has been edited by StuGood (edited 06-27-2000).]