NOT a 240D owner, so proceed at ur own risk...
Re oil pressure, have you changed the oil/filter lately? I wouldn't worry about too high a pressure, my 220K mile 95 pegs the guage at anything off idle. Its a good thing!

Assume your bearing clearances are tighter. If you have no oil leaks, you might want to convert to synthetic motor oil if you havent already. I'd stick to the "fleet" or "diesel" oils since we have cams and non-roller followers of one type or another in all our engines. In fact, I use a few ozs of GM's EOS in my solid cam motor. Likley dont need it in my hydraulic follwer motor ( MBz 95 606.910), but still do, since its older.
EOS is akin to STP oil treatment I should think. Getting pricey at $12 a can, so I use it sparingly.
If you start the car in outdoors cold, synthetic is much better at that task. Everything else, imho, is a "push" between dino and synth oil. YMMV!
The only drive I've given my 95 so far, is the run home from Philly, 450 miles through a Nor'easter, to boot. Once we got out of the storm we all went 80 mph min., as all the troopers were behind us dealing with more disabled vehicles than I;ve ever seen, except maybe Beirut after a missle attack.
Noticed the tach above 3000 rpms at 80-85 or so. Thought it was revving somewhat high, defintely not an OD trans! Must ahve 3.07-3.20 gears int eh back on small 15" rubber. BUUUUUUTTTT, with one bad injector Lil' Blackie gave up 34.7 mpg ripping at 80mph.
Keep the oil good. Use some EOS ( a few ozs) for "added additives", and drive the tar out of it like it wants to be driven.
Guys, do they gear them down in teh Eurpoean configuration> or drive drive the tar out of 'em like these rides prefer.???
Nice looking ride dude, sounds very good-to-go as well!