Hi Rich,
When new, the clearance between the edges of the gears and inside surface of gear chamber within the timing cover is only 0.002", which is very small indeed. Typically with every 0.002" increase above the original clearance, you can expect to see an oil pressure drop of 2psi. So if the clearance is for argument sake 0.010, then the oil pressure will be 10psi less, assuming no variation in any other parameters.
Also check by how much the gears protrude above the surface of the gear chamber. When all is new and with the gasket in place, the end float should ideally be no more than 0.0022". Again, if the end float is greater than this, oil pressure is reduced. As P6B and SD1 new timing covers are essentially non existant now, you just have to find the best that you can.
Ron.