Older LS engines tend to develop problems due to the reusable gaskets taking a set. I won't say that they shrink. They more or less just conform to the shape of what they are sealing, and no longer bear pressure against the surfaces.
Such was the case with the O-ring that seals my oil pickup tube. I noticed my oil pressure not picking up as quickly as it should, and fluctuating at idle. It didn't take much research on the internet to find out that this is a very common problem in older engines. Mine is 18 years old.
My oil pressure at idle, when cold, tended to run around 35 PSI and it would improve as the engine warmed up. I thought that was odd, but still pretty good pressure. On the highway it would run close to 50. Not bad for an engine that's pushing 300,000 miles.
Long story short, I replaced the $4 o-ring that I picked up at AutoZone. When I refilled the oil and started the engine, it was a few seconds before the oil picked up of course. Once it did, it was Rock Solid at 45 idling. No more dipping back down.
This is one of those things where I wish I'd known about it sooner. I would have replace the O-ring when I replace the oil pan gasket.
If you have one of these older LS engines, I highly recommend you replace this at your first opportunity. Especially if you're noticing low oil pressure or fluctuation. Fluctuation means it is drawing in air.
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