Brian Miller worries that the T shape of the oil pressure sending sensor will 
be a problem what with the pendulum effect of engine vibrations, etc.  The PO 
of my '68 Bus installed what sounds like this same contraption over 12 years 
ago ( I bought in 1984 ).  I have had NO LEAKS or any other problems 
associated with leaks or thread damage to the hole.  I do now have a 
flickering oil light problem, but I think its due to the brittleness of the 
plastic covering the wire and that it seems to be a bit cracked.
Good Luck 
Jody
'68 Bus Stella