On my 96 5.9 I have a mild built motor. Heads, cam, bigger bore. My question is will a cam have an effect on my oil pressure being lower than stock. Haven’t really plugged in a mech gauge yet to verify, kinda just going off the cluster guage right now...

 

Cam won't matter, unless you have excessive clearance between the cam, and the bearings.

 

The oem type oil pressure gauge can go bad over time and read a lesser oil pressure to the point where the check engine light will go off. Usually another sensor will correct it. I have gotten bad replacement sensors right out of the box. A quality mechanical like an Auto Meter is nice to have as a backup. You can purchase them with stainless steel hoses.