Yes, you can read oil pressure there and it is 1/8 NPT. If I remember correctly, that is oil pressure "downstream" of the oil filter - i.e. after the oil has passed through the filter media. I'm not sure what "spec" is but I've seen up to 100 psi there on a 1st-gen 12V with warm oil at high idle. Warm being after a few minutes of idling vs. hot after extended operation. A good "minimum" rule of thumb for oil pressure is 10 psi per 1000 engine rpm with the engine completely warmed up. But that is lower than I like to see the oil pressure in engine. But there is also such a thing as excessive oil pressure. Personally, I think Cummins B-series engines run excessive oil pressure and waste a lot of power and fuel doing it. 60-100 psi is too much. 50 psi at high idle with hot oil is more in line with what most medium-duty and heavy-duty diesels run at operating temp and full load. No doubt some "knowledgeable" people will take exception to that, but that's been my experience wrenching on diesels for 20 years. Diesels have large bearing areas for a reason and it's unnecessary to have sky-high oil pressure AND large bearing areas to carry the load.