I have both problems with my 99 WJ. I was told on another thread that the oil pressure problem is the sending unit. I did not have any engine noise when it went to 0 either. I bought one and will be changing it out this weekend. The funny thing is that I just had my oil changed and the pressure reads fine now. Im changing it out anyway.
Sending unit - $38.95 at Napa.
1-1/16" deep well socket.
Located 2" above the oil filter.
I have been told it is a piece of cake - Ill let you know.
The pwr steering fuild is driving me crazy. My mechanic told me it would be too costly to fix and suggested replacing the fluid with the "fix-a-leak" type fluid first. Did that a month ago and its still leaking about a drop a day.
I have to look in to it a little more.