If the pressure is just above zero at hot idle, that isn't good. It may just be a faulty sender, click here for details. I'd try replacing the sender first. And at the next oil change, do not use oil that is 0W-xx. Yes, you should use fully synthetic, and at least a 10W-40 viscosity, if not higher. The 1994 service products brochure (attached) did show 10W-60 as acceptable in warm climates.
I have replaced the sender unite for 93 JDM 500E, and it is still pointing slightly above the zero, and that when idle hot using 0W-40 fully synthetic, However, the other 1994 E500 i own (Euro imported) the minimum i saw in the same conditions was( 0.9 -1.00).
I will change the oil viscosity, in the next oil change to fully synthetic 10W-60. Or maybe change it to mineral 20W-50 and see if they make any differences.
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