need some help

Are you sure the gauge isn't working or are you just not getting any oil pressure? If you're not getting any pressure despite having the proper level of oil then you have an internal oil leak. Have the shop run a mechanical oil pressure gauge and see exactly what the pressure is. The stock gauge is basically a dummy gauge. It only reads pressure if the actual pressure is over a certain level. If it's lower than that set level then the stock gauge will read 0.

As far as oil in the coolant, thats a head gasket problem (or cracked head, cracked block, etc...). There may or may not be coolant in the oil tho...check for brownish milkshake oil, sweet smell from the exhaust and white smoke. Along with power loss and CEL's. A compression check will also let you know. Sorry for the bad news. Where did you get the car from? How long have you had it? How many miles does it have? Did the previous owner or dealer inform you of possible engine problems?

You may have issues with the oil cooler. It's located down by the filter and uses coolant to pull heat out of the engine oil. It's a place where oil and coolant can mix.

I just talked with him trinity_gt, and from what he says it might turn out to be (hopefully) radiator stop-leak sealant...looked a bit scary there!!

How much did you get it for?

Cool beans...feel free to ask advice before you purchase or do anything if you're unsure of it. And I'd like to see some pics...enjoy your car!!