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nitro/max,
Just because the gauge reads low doesn't necessarily mean that the actual oil pressure is low...it could be the gauge, the sender, or both. The first question I have is why hasn't the oil been changed since May 2001? Change the oil!!!! If the oil pressure is that low...I would expect a problem. I would have someone take a look at the motors anyway before you buy...compression test would be good, leakdown test would be better.
If you are looking at purchasing the boat.....have someone with a Merc scan tool (available at about $400+-) hook up to the ECM and look at the actual hours on the motor and cool things like hours ran at different RPMs.
Tell us more about the boat, motors, drives!!!???
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