It's all relative. If your car runs consistently at a certain level, it's probably okay. The best measurement is a mechanical oil pressure gauge to see how your system is running. From there, you can make adjustments to the oil pressure electric gauge (or at least know that your H setting is okay as is).
Another alternative is that your sending unit is bad and it's pegging the gauge.
Good luck with your diagnosis! /forums/images/icons/smile.gif
The guage should show relative oil pressure in your engine...assuming noone put the wrong type of sender in (which would show max pressure even before you start the engine).
The factory guages have an incredibly overboard amount of damping in them which prevents us from seeing very quick dips in oil pressure. An aftermarket guage is much more accurate, though most of us get away with the stock guage forever without killing a motor.