Water temp and oil pressure gauges.

if your car came with a oil pressure gauge: yes
If you car only came with an idiot light: No

Good news is that you can retain the idiot light AND add an oil pressure gauge. you can get a combo sender that fits in the 1/8npt port on the rear of the engine that the idiot light sender fits into.

150 PSI Warning Contact 11.4 PSI 1/8-27 30/15 | Pressure Sensor with Warning Contact | Pressure Sensors & Switches | Senders and Sensors | VDO Instruments and Accessories

just as an example here is VDO sender that can send up to 150 PSI oil pressure and has a warning light at 11.4 PSI that you can use the existing idiot light circuit.
And this will work with a /6 sending unit near the distributor?