I have a 1992 305 TBI Firebird with about 117k on it.

I honestly can't say that I have paid much attention
to my oil pressure guage as of late. But I noticed that
my check engine light is on today and the pressure is
reading 0 at idle and still in the red while accelerating.
I know it was fine last weekend (the last time I remember
checking)

I thought it might be related to the new chip I put in so I swapped
back to stock ... no help.

Any suggestions?

I'm going to change the oil and filter tomorrow anyhow, I hope
it's just a clogged filter or something equally stupid.

 

Be sure the gauge is reading properly.

 

Yup... if the engine isn't making all kinds of racket, chances are the oil pressure itself is OK.

Just change the sending unit. They go bad all the time. that's usually what's at fault.