Is the oil pressure sender unit that operates the pressure gauge of a Testarossa a part common to other (non-Ferrari) cars? I have checked the cross reference thread to no avail, but somehow doubt it is unique. For some reason mine is quite erratic, showing wide swings in pressure while operating at steady rpm, sometimes showing no pressure at all. The oil pressure light never comes on and car runs well. I note the issue could be electrical and am checking the wiring as well.
Considering the location of the connector they get dirty and corroded. With your description I think that is a real possibility. I'd make sure it is intact (gets kind of manhandled at big servicePos) and clean the connector. Possibly common to Fiat but due to the terrible reliability of the modern replacement parts and their inaccuracy I use the conversion unit sold by Tacelf. Have one in our 328. Best thing I have ever done.
Thanks - there was a leak at the thermostat, since fixed. Coolant could have gotten into the connector and messed things up. Will check that out.