Sometimes they do go weak, at least according to some posts I have seen here. What happens is the close tolerances of the pump open up, which is due to normal wear or debris in the oil. Or, the relief spring can get worn and weak. Possibilities, even if not likely.
Can you talk to the person who built the motor? The reliability of that person can affect what you suspect. For example, a professional builder probably used the correct bearings and used the gaskets on the pump/pickup. If it was built by some rookie kid (no offense to any young guys out there), then I would suspect the stupid mistakes first.
What ever the cause though the pan should be pulled to find the reason. Driving with that low of oil pressure is pretty sketchy.
Good luck
jason
Can you talk to the person who built the motor? The reliability of that person can affect what you suspect. For example, a professional builder probably used the correct bearings and used the gaskets on the pump/pickup. If it was built by some rookie kid (no offense to any young guys out there), then I would suspect the stupid mistakes first.
What ever the cause though the pan should be pulled to find the reason. Driving with that low of oil pressure is pretty sketchy.
Good luck
jason

be nice! Im going to attempt to take the pan off this weekend. Wish me luck ill keep you guys updated. Any one eles wants to speak their opinion please do!