6 psi is so low it doesn't sound like something just wore out.
There is definitely something amiss but before you assume the worst I'd get Moyer's book first and try to adjust the oil pressure screw. This little screw pushes on a spring, which pushes on a little metal ball, which controls the flow of oil out of the engine. When the screw is tightened it increases the oil pressure. When loose (or if the spring is broken, or if the ball is missing) the pressure will be low.
This is a laughably simple thing to do but it can make a big difference. You can inspect the spring and ball by removing the screw (carefully) and turning the engine over. The oil will blast the spring and ball right out -- you have to catch them in a rag.