Keep in mind oil under huge pressure like anything starts being abrasive, and will chew slowly away at things, i think oil pressure over 120 psi is stupidly high unless your making massive numbers, definately would not run more than whats required on a car that is used on the street. Cue a rant anyone?
Sounds like this engine has a blockage, it should be near impossible to get that much pressure at idle, my tomie runs about 35-40 pound at idle, with restrictors and 2.5 thou crank clearance.
Hense if for example a tiny bit of crud or filter paper or rubber etc was blocking head feeds or something? Id be looking deeper than the pump.