Great. Good job. Where did you find that Ign fuse on your rig. I'm going to have to find where my Ign power for the fuel pump power is picked off from. My wiring does not correspond to what I see on my Winny. I never found a 20 amp fuse for the fuel pump.
Where is that 8 volts you mentioned?? All voltages for the fuel pump should be 12 volts. That pump draws a bit of power. Measuring back near the pump somehow might show less than 12 volts due to loss in the wiring but 8 V would seem way to low to me. In fact you should have a full 12 V at both the relay and oil sending unit I'm pretty sure. I'd be concerned about any (or much) less than that when the pump is running.
Here is some theory about how GM
Fuel Gauges work. I hope this is true for their trucks (P30s) too. I'll have to dig out my manuals tomorrow and take a look at what they way.
Also, I'd be a little interested as to why that fuse blew. Maybe look around a bit or grab some harnesses and move them around a little.
Regards, M T S