Sending unit failures may be very rare, but they're so quick+painless to change that it's crazy not to try it first. The only oil pressure related problem I've ever had was four or five years ago - my wife was en route home from work (an hour drive) in the '98 EJ22 OBW when the idiot light came on. I told her to stop right where she was and have it towed home. Unscrewed the sender, screwed in a gauge, verified pressure, stuffed in a used junkbox replacement, and it's still on the road. Why get caught up in complicated speculation rather than trying the easiest fix first?