IMHO it's fairly normal to see a slight drop of FP when the fuel is cold. Every pump I have tried, with the exception of the PE4100, which failed, always had lower psi's, to the tune of 1-2 psi's until I was about 30-45 minutes underway. The 4200 I'm using now appears to be extremely prone to lower psi's when the fuel is cold.
Ramboy, to eliminate the possibilty of a failed sender, pick up a small mechanical gauge and plug into your port where the Nordskog sender is located. You can pick a 1 1/2" gauge from Summit Racing or Jegs for about $20. 00. Even less for a generic psi gauge from Graingers. They have a 1/8" NPT fitting on the back of the gauge, and you can use some 1/8" tubing and 2 compression fittings for your temporary test gauge. Total cost maybe $25. 00.
A swing from 2 to 12 psi's is a bit much, and I'd be concerned about pulling vacuum numbers when cold, if it is your pump and not the sender.
Scott W.