Glad you have found the problem. Your gauge problem could be the ground on the tank. The tank grounds thru the straps. The sending unit grounds thru the locking ring. It any of those points are rusty and dirty you may not be making a good connection. Fords like good grounds. You can add a separate ground from the tank to the chassis. You can drill a hole outside of the ribbon weld on the tank and bolt a ringlet and ground wire between that and the frame. Should help.
Duane in Tennessee.
Duane in Tennessee.