[Tigers] Oil Pressure Part II

[e.coiner at cox.net]

I just got my Tiger back on the road after a 3 year hiatus. (ie I was too cheap to have a fender bender repaired and a repaint)

I have a 260, it makes 180hp at the rear wheels. 
I have an aftermarket remote oil filter setup.  I use a low profile block adapter that Dale A. sells
The filter is mounted behind the headlight bucket in the drivers side fender well. 
The connection are with -8 AN fittings and SS braided hose.
I have a stock oil pan

Cold oil pressure is 45-50 psi
Warm pressure is 35 psi.

When I come to a stop, the oil pressure will drop to around 10 psi, to the point I can hear bad mechanical (ie knocking) noises.  As soon as the deceleration is over, the pressure will rise back up to 20 psi or so and the bad noise stops.
Any ideas on what I should do to fix this one?

A separate anecdote that may shed light:  A coworker has a 95 Mustang with the V6.  It has over 100k on the clock. He was experiencing low oil pressure, when the engine would get good and warm.  He tried higher viscosity oil. No change.
He replaced the oil pump with a stock unit from the local parts house.  Problem solved.  Now has good oil pressure even when hot.