heh-heh, seems like most of the older yj`s oil pressure gauges show 80 lbs,,
Both of mine do/have. Check the sensor.
But no, normally it doesn`t lead to anything else going wrong (unless of the course you really have 80lbs of pressure) which is doubtful unless your jeep is a few quarts low.
As far as running cooler, I don`t know, my cherokee with the 4.0 runs around 200-210 when its hot outside and my wrangler runs about 190, you may be able just to get a lower temp thermostat