OK So I have numbers now...

Cold start, I get 3 bar (45psi) which if revved a bit to 1500rpm goes to about 3.75bar (55psi) and then doesn't climb. So I guess the pressure relief valve is working OK

After a short drive and the water temperature needle is just lifting off the bottom, I get about 1.5bar(22psi) at idle.

After it's up to temperature and I've done a few miles, I have 1.1bar (16psi) at idle, 2bar at 1500rpm and 3bar at 2200rpm etc.

Does that 1.1bar on hot tickover look a bit low? I've no idea what they should be I've not found any references to correct pressures for the engine in the overhaul manual.

Thanks.
it would sound ok 16psi is not lower enough for the light, ive had a few cases were a new oil pressure switch was the answer as
 
The lights not coming on now - it only did it after the climb. I understand that triggers at 7psi.

I'm tending towards the thermostat not cutting in correctly and letting the oil get too hot when worked hard - I presume these engines have oil jets to cool the piston crowns? For what they cost I'm probably going to swap that stat - get a new pressure switch just because they are so cheap anyway and carry on. I was just expecting to see a little more pressure perhaps at idle, perhaps im expecting too much from it lol.
 
I ran an oil analysis when I got back, the viscosity and TBN were well within spec - the oil should be good for at least 10k looking at it.

From what I can tell the oil thermostat appears to be stuffed and doesn't open at all - I've got a spare one here I just need to pull them both out and compare and then fit the new one but I think the problem as others have said is entirely down to insufficient oil cooling.
 

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