Update: I got a mechanical gauge from a friend of mine and here are the new numbers: 62# cold, 50# full throttle, 32# idle. My buddy with the 289 falcon says he also runs 20/50 racing oil, so I'm going to switch to that on my next change (for the summer months). Thanks for all the help.
pressure I would maybe go with a 10/40 Valvoline racing oil- good zinc content to protect moving parts. The 205 thing sounds a bit high, are you losing any oil or using any? Stock set up? What do the plugs look like? At 205 you're going to thin the oil out quite a bit and the pressure will drop a bit. I'd try to see what will bring that temp down to the 180-90 range and see if that has any effect on the iol pressure readings.
that pressure is fine.. if you go too thick on the oil, it wont flow as well and you will do worse to the engine
I believe I blew the #4 cylinder intake valve seal, I use a pretty good amount of oil, and that plug gets filthy, however; all of the cylinders have good compression. I know the intake is leaking at the front seal and possibly internally as well. I'll try the 10/40 this time around.