What kind of gauge are you using, stock?
I would also check the sending unit.
What is your idle speed when the pressure is up?
Is it possible that your choke is making it idle faster, which also would cause your oil pressure to increase?
I know that the first start of the day is always the highest oil pressure (at idle) on my truck.
What oil are you using?
Get your truck on the freeway, get it up to 70-75 for 8 miles or so. Get off the freeway and stop at a light. What does your pressure read now? Go up the block, regular street speeds and stop at the next light, whats your pressure now?
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