92 Suburban Oil Pressure/Engine Power

Okay but would that constitute the loss of power? The power loss I'm thinking may be a plugged cat. But am I wrong? Would crapped out mains cause oil pressure drop AND loss of power?

Sounds like when the oil gets warm it thins out. I would guess that the main and rod bearings are worn to a point of causing this to happen.

Does the temp gauge now indicate acceptable temperature? First I would definitely check that oil pressure with another gauge. Since the engine has 250k miles on it it could simply be worn bearings and / oil pump, and hence the entire engine may need rebuilt before spending any money trying to find / correct the power loss.. Depending on how old the catalytic converter is I think that is a possible cause of the power loss and many exhaust shops will check that for free anyway.

Yeah the temp gauge is fine now. Temperature never exceeds 205. Mechanical gauge is more accurate (electric one jumped a lot with RPMs). Only low pressure at idle (5-10psi). Normal driving puts it around 20-30psi when hot (50-60 cold) which I know can be low but like we've already established, it's got some wear on it. But I do notice the power loss when this lower pressure occurs. I plan on replacing/ rebuilding the engine early next year but I'd like to think I can at least make it through the winter. Thanks for the help and any other suggestions you may have.

Did you not read the replies to your first post of this question?