I'm pretty sure that it was the sender. My old one had TONS of play in it. When I had it out of the tank and hooked up to a ohmmeter, it would jump out of range quite a bit. That makes sense why it was always reading low. The higher the resistance, the lower the guage reads. Now that the new one is in, it is dead on.
For reference I am now getting the following readings with my new sender:
Full=22.3 Ohms
Empty=147.15 Ohms
I'll let it run through a couple tanks of gas and give everyone an update.
BTW, I wonder if someone like Bill Jenkins can hook us up with just the sending unit.
BP