Rule of thumb is minimum of 10 lbs of oil pressure per 1000 RPM and you should be fine since yours is twice that. 10W-40 should not cause you any problems.
Back 40 + years ago straight 40W was what was used in many high performance engines and it's much thicker than 10W-40 is. Not something you want to run under 40 degrees ambient though.
The owner of PY wants to welcome all Pontiacs to this site, so welcome and if I can help you with any questions I'd be happy to.
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Brad Yost
1973 T/A (SOLD)
2005 GTO
1984 Grand Prix
100% Pontiacs in my driveway!!! What's in your driveway?
If you don't take some of the RACETRACK home with you, Ya got cheated 
  
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