I agree with ctc, i have seen them run at 1 psi before, as long as there is enough flowntgey will run. Are you having any hard starts? There is a ball in the hpop that can fall out and cause this. Also the front cover could be scored causing yhe oil to bypass the pump and not build pressure.
Pulk the oil filter out, and hold down the check valve in the bottom of the bowl with a long screwdriver. Crank it over with the starter wire over by the passenger battery. If it fills up to the threads in 15-20 sec or so, base is probably decent. If not, Try pulling the oil regulator out, which is the 12mm allen on the front cover, kinda pointed off toward the passenger side at a downward angle. See if there is any scoring that you can see in there, as that would be the easiest preliminary check. Either way though you are probably gonna b tearing into it.
As far as turbo play, hese things have a pretty good amount. I think the spec is like .035 up and down and .012 in and out.