Honestly, I have LITERALLY no idea where you're thinking the modern engines don't last as long. Not that I have too much experience with things running 0w-anything (not sure what actually specs that actually), but your engine can really last a good long time on 5W30. If your engine has good bearing clearances, there's no need to run anything heavier than 10W30 in anything.
I personally own a 2004 Chevrolet Colorado 3.5L I5. It has run regular Pennzoil 5W30 since new. It has about 112k on it and the oil comes out clean and it burns NO oil at all. My dad has a 2004 Blazer with about the same miles on it. Same oil. Also burns zero oil and the oil runs clean.
A co-worker has a 2004 Honda Accord 2.4L. 411k miles and has run 5w30 Mobil 1 since new. It has NEVER been apart. Still runs very well.
Also, you need to remember that the oil galleys are an enclosed space. When you have an incompressible fluid in an enclosed space, the pressure is the same everywhere. The oil galleys themselves and the oil is close enough to this to not make a difference.
If you loose enough oil volume the pressure will drop. That's why the pressure is actually worth something. Otherwise people would insist on installing oil flowmeters, which nobody does.
Personally, I'd like to see at least 20psi at idle, but a good first step is to dump the fram, change the oil, inspect to see if there is any metal coming out and see what happens if there isn't.
If it doesn't change, I'd personally probably pull it, but it will live for a little while.