Do you know if your tractor has an oil pressure relief valve? Memory from 30 years ago...daaaaa....JD 4010 or 20, forget which, about 1965-9 age group, as I recall, I had an adjustment on the right side of the tractor that was a pressure relief valve you adjusted to 30 psig oil pressure at some rpm and all.
If you had one and the spring broke or something allowing full flow all the time, that might result in low oil pressure.
Don't ding me on this, but years ago I objected to GM oil pressure varying all over the place with rpms and being low. Turns out (I think) GM used high flow rates and low pump pressures....since the pump was driven off the distributor shaft, didn't want to snap the shaft....was the story I read, while my MOPARs and Fords, the oil presure jumped up (to a pressure relief valve maybe) running low volumes, and remained at 40 or whatever it was once you left idle.
Point here is that since you did your research, their has to be a mechanism. If your mechanism is high flow and low pressure, due to something like I mentioned, then why worry about it? If your problem appears (to you) to be "an engine in need of repair" and as others have suggested, do this and that and then sell what's left for a few hundred bucks, then I have a suggestion.
Quit worrying about it and just use your tractor. When it quits, then consider your alternatives:
Make sense?
Update just hit me: What are you using for a pressure monitoring mechanism? Is it accurate? Is it getting access to your actual oil pressure....aka a line plugged with sludge sort of thing? Have you pulled the measuring instrument for a second and check to see that you had good flow coming out of the hole, indicating ability to feed a meter with accurate oil pressure? The hole feeding pressure gauges isn't very big you know........
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