Thanks for all of the comments. I appreciate the help. I have read the owners manual and I have purchased a hard copy of the service manual. I am expecting an oil pan gasket and new pressure gauge in the mail Friday. This weekend I am going to get to work on this oil pressure issue and try to determine what the problem is. I will post an update when I get tot the bottom of the problem, hopefully.
Once again thanks for all of the help. I am looking forward to getting to know the cubs very well and following the cub discussions on this board.