Preston, you said when you changed the oil, the pressure improved. That's good to hear, clean un-polluted oil. See how it goes for a few weeks.
Only time you need to really worry for a daily driver is if the light comes on and you hear the timing chain tensioner rattle. Just bring up the revs a bit to get the oil light off and when you have the chance check the oil level. If there is not enough oil in the sump at anytime, especially after a spirited run between lights and a quick stop, all the oil is up the top of the motor and none in the sump for the pump to pick up.
Oil pressure readings mainly result from the main and big end bearing clearances as this is where the pump tries to force the oil out. The thinner the oil the less effort it takes for the pump to push it through, so lower oil pressure is read, as others have said.
If the carbies need a tune or there is a problem with them they could be the main reason for the fuel smell, as it has diluted the oil. Running short distances and low revs/speed just makes the oil more diluted as this adds water condensated from a cold engine.
Any blocked oil passage would stop oil and result in a higher pressure reading unless of course the blockage is before the sender unit. The motor would have run bearings by now if this was the case.
As engines run, they wear out the bearings, they may start to stretch big end bolts, they may have been built with clearances on the bigger side, the oil pump may also be on the larger tolerance or worn, all these factors can contribute to the lower oil pressures observed. How old is the motor?
If the guage moves off zero and slowly climbs to a point, drops back a bit and then climbs again as revs increase then the pump is working ok. The dip occurs when the by-pass valve in the pump opens.
As long as oil is present between bearings then the engine is safe (normal daily driver). For me, good oil flow is a key to engine life whether it is high or low pressure. Saying that it is possible to have too high pressure from too much flow resulting in the oil not staying long enough in the bearings to do any work and remove heat so being ineffective.
I finally pulled down my 2T after the last CCG track day at Wakefield. I thought I had spun bearings. The oil pressure was barely showing when hot at idle and the engine was making a death rattle. I took the gamble and drove back to Canberra knowing the others were following, watching the oil guage barely move, but it was.
Turns out the flywheel bolts were loose and that was the noise.
The main and big end bearings look fine, the crank journals look un-marked but i have not measured anything yet to see if the tolerances had changed.
Conclusion, I suspect I stretched big end bolts (OEM) from the higher revs I ran on the day. 7500 mostly and 7800 odd a couple of times. This opened up the clearances and dropped the oil pressure readings. Previously I ran lower revs because I had single valve springs and it valve bounced at 6500.
If you are still worried then the sump will need to be pulled off to have the bearing clearances checked and maybe then replace the bearings. Check River's T series thread as 2TG KE25 indicates, this will give you the numbers for oil pressure, bearing clearances, etc.
Regards
Rodger
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