Fourperf wrote.
maybe I should add a shim which would make 4 total. The oil pressure would be over 100lbs at idle when cold but maybe that would get me closer when hot
Not really a good idea, as the name implies it is an excess pressure relief valve and will have no effect on your hot oil pressure, if your pump and shell clearances can only make 40 psi when hot thats all your going to get regardless of weather you have 100 lbs or 200 lbs in there.
What you do have the big risk of though is imagine this scenario. You are just leaving the pub/bike meet and want to impress your mates with what a real bike sounds like at 5k+ revs leaving, the bike is stone cold on a cold night and your 20/50 is like treacle, you haven't got time to gentley warm it up for five miles so off you blast. The PRF is set for 100lbs and your gauge is reading 100 lbs, what gives, the oil seal in the the timing cover feeding the crank blows inside out now you have no oil pressure.
Set the PRF to give 60 psi when cold and forget about it. Nortons do run low oil pressure when hot. I dont have a gauge on mine but I have a switch connected in the rocker feed between the head feeds conneted to a warning lamp in the headlight. Hot idle the light will flicker on. Another example is an engineer friend who built a 920 Rob North with an oil pressure gauge, I asked him what the hot idle was, about 0 psi.
Norton probably never fitted oil pressure gauges or warning lights for fear of frightening owners into thinking they had a problem.
regards