Oil pressure reads high 40 to 60 psi, guage never flucuated this much before new engine

Did the oil pressure get checked with another guage before replacing oil pump? The oil pressure sensor is a commom failure on these engines but the lifters making noise seem to verify the lack af pressure.

Checking oil level won't tell you anything

You need to put a mechanical gauge on
the motor,you can't go by the dash for accuracy

You could have many things that need to be
done preventative maintenance wise before
you even start to diagnose the couple of current
issues

Dash Check Lights?
Codes?
Driven for two years & never worked on?

We can't guess,you need a repair shop to
give you the solution

https://s8.postimg.org/f2883p56d/oil_pressure_sensor.jpg

It appears to be on backside of engine block, close to bell housing. Two wire connector. If dark on backside of engine block, sometimes a mirror and a flashlite come in handy?
You might want to double check oil pressure. My info said minimum--hot, 6 psi@1000 rpms. 18 psi@2000rpms. Any specs you read on the internet always try to double check, just in case.
Sometimes you can use an analog gage in place of the sending unit to double check oil pressure.

Not uncommon for oil pressure to read @ 80psi when oil is cold an thicker or a heavier weight oil, however, does it fluctuates or simply stays @ 80psi cold or at running temp? if so, its normal, if it stays there and doesn't move, that may a bad guage or sending unit. consider this and get back. I am a mechanic . TH

Your oil pressure will flucuate with the rpm of your engine. It is generally higher also when the engine is cold as the oil is thicker. This is normal as long as your oil pressure stay in the normal operatting range.

If the engine is not making any noise.It is probably the oil sending unit that is defective.If you want to be sure you will have to install a pressure gauge and check the pressure when the vehicle is at normal operating temperature.If it is above 10 psi then replace the sending unit.It is located on the back of the motor on the block by the left cylinder head.You might need a special socket for it.Hope this helps.Good luck.

you may have a bad oil filter, the best check is to install an oilpressure guage to find out what the actual pressure is, or maybe you put in too light an an oil,

bout the oil pressure gauge its normal to go up but not to high coz u might overheat, try checking the cylinderhead gasket if there is pressure coming out, replace the gasket if needed

is the spark blue?xheck all the connectors to the mfi iac and ignition module,and the distributor

DIAL IN CAB COULD BE AT FAULT, NEED TO GET ANOTHER DAIL GUAGE AND CONNECT TO SENDER, IF SAME COULD BE SENDER, IF STILL THE SAME, PRESSURE VALVE IN BLOCK STICKING DUE TO DIRT OR U/S, OR AT WORSE !!! ENGINE WORN, THIS WILL BE CONSTANT IN MOST CASES, FAULT IN GUAGES ARE NORM INTERMITANT.
LOTUS