Mine has been reading 3/4 when it is full. I have a 36 gallon tank that fills to 30 gallons. By re-fueling at various points along the gauge, I have learned what each means: 3/4 - full; 1/2 - 2/3; empty line - 1/3. I now fill as soon as I hit the empty line (needing 20 gallons). Both my tanks (same size) were reading the same way.
This last fill up (on both tanks), I noticed they only fill to the 1/2 mark. So, I'm going to re-test the points on my next long trip. It could have been the nozzles at the station where I filled up. It could be something else.
The sending unit can go bad. Also the old floats (not sure on new ones) were actually made of styrofoam/foam and after years will start to absorb the fuel. This makes them heavier, so they become mis-calibrated.