Oil pumps DO wear out after a lot of miles,and many get damaged by metal filings,nylon timing gear teeth fragments,and cracked valve stem seals--the screen on the intake can and will actually pull away from the housing during a cold start when oil is thick and let crud get inhaled too,especially if the screen is clogged up badly..I've found everything from those items to the steel c-clips that go in the valve lifters get into oil pumps and booger the gears up...the oil pressure releif valve springs can weaken with age and heat after a long time and drop pressure too.
.a new stock oil pump is less than 20 bucks for a SBC,and a steel driveshaft collar for it is only another 5-10 bucks,a good investment to replace the crap nylon POS stock one...I dont beleive in "Hi-Volume" or "Hi Pressure" pumps,seen them cause more grief tan good in a stock engine,they need certain mods to make them compatible ..
But,I'd do as suggested frst,and put a good mechanical pressure gauge on the engine in place of the stock sending unit and see exactly what pressure you have both cold and hot..and maybe try another oil pressure tap on the engine in case the one for the sending unit has become restricted with sludge...chances are if your lifters aren't clattering there is sufficient pressure and its just the gauge or sending unit leading you to beleive you have a problem when none really exists..
I'd also run thicker oil if its a high mileage engine--10W-30 is the thinnest I'd use unless its below zero where you are very often--or use the thicker oil with a block heater...usually if bearings are loose,you'll hear a woodpecker type clatter upon starting a cold engine for several seconds until oil pressure builds up...
I've had certain oils lose viscosity when hot and let oil pressure droop as the engine heats up..the worst ones were Quaker State and Penzoil,I had best results with Castrol GTX 20W-50 in my old engines that had the oil pressure drop off after they got fully warmed up,but you may not be able to use that till summer comes,it gets too stiff below 20 degrees...