You need to verify both temp gauges you mentioned. Take it to a real shop and verify the temps.
1 - The oil pressure going from 60 at idle to 25 while driving warm may not be an issue at all. All depends upon where you are getting the reading from and how the gauge interprets the info.
2 - If your water temp block was hanging at 250 degrees then you would have several other issues and probably wouldn't get too far down the road. Restarting an FGF at 250 plus is almost impossible, so we all would think you'd mention that problem as well. A block that hot would make the starter scream for mercy. Most likely the temp sensor or the guage is reading 20-30 degrees high.
'68 428 HO M3 Monster, 4-on-the-floor! Need I say more?