Ford Repair: oil light comes on while driveing/stalling while running, 1978 ford ranchero, oil pressure switch


Question
Hello, I am working on a 1978 ford ranchero,
motor,351 motified
trany,auto,2barell carb,duell factory exaust,
 ok here is the propblem,
car runs great but as it slows the oil light comes on ,(it is full on oil) and while it is running it will suddenly stall,

im in colorado and it passess the immissions  and passess verry well ,
i have ben told everything from timming to carb?
 help?
do you have any info on this old horse?
will be greatfull for any info you can pass along to me ,or any tips to <a href="http://websearch01.mcclient.com/search.php?s=+free+auto+repair+help+older+autos&rnd=kwtzvl" onmouseover="window.status='http://www.allexperts.com/info.php?help'; return true;" onMouseOut="window.status='Done'; return true;">Help</a> me locate this pain in my auto?
 thank you
               Kevin

Answer
Hello and thanks for the question..I'll try to help.
I think you have two problems.
First is the oil light, I would say one of two things is happening there. Either you have a bad oil pressure switch, or the pick up screen is getting clogged. To really find out what's going on, install a manual oil pressure gage. Then you can SEE what the oil pressure is.
Your next problem, the engine just quitting.........I wouldn't be surprised if your dura spark module has gone south....it's usually located on the left fender......cheap replacement....about 60-70 bucks. If everything else checks out----ignition timing, fuel delivery, and the engine has just passed the emissions state test....it would seem logical.
Hope this helps,
Erik