318 - High Oil Pressure

I am not sure on the blowby. I would assume it was an acceptable amount. The breather just looked like 'steam' or a light mist was coming out of it.
If it is just 'floating out' lazily at idle, then that is good. If it was coming out in a steady stream with some pressure behind it, that is not good.

I'd keep an eye on the PCV system; look for any dripping/leaking oil when cruising, and then again after romping on it.

Still not likely caused by the high oil pressure. BTW, the suggestions to re-check the oil pressure with another gauge are very wise.