My opinion....if you can pull the oil cap from the valve cover, and see/feel oil on the lifters inside, I'd say you're pumping oil to the correct places.
From what I have gathered from the past on other posts, a lower oil pressure is better than a high pressure. And I think, if I'm not mistaken, there is no "warning red" label on the dash panel where the gauge is telling you that you're in danger. (hi or low)
When you see smoke and hear knocks (not ticking), then you might be on to something.
My gauge runs just past 40psi I think, and while stopped, it lowers quite a bit. The engine has 135K on it, and does not burn a drop of oil between changes.
I say....don't worry too much about it.