I posted this on another site, but thought I'd copy it here so that it could possibly help some of you out as well. The 2001 Trac has a TSB out for this problem, though I decided to do it on my own even though I'm still under factory warranty. Cost of the part and my labor is much less than the time I would have to take off of work, sitting around waiting for the job to be done, or having to rent a car. Keep in mind, this was done on a SOHC Trac, so the location may be different from you, as well as the descriptions of other part locations...
The oil pressure switch screws into the engine block on the driver's side toward the front. If you look at the engine from the front of the vehicle, it is behind and to the right of the power steering pump. If you look at the engine from the driver's side of the vehicle, it is beneath the A/C compressor. It is quite a pain to get to. I chose to get to it from the top, putting my arm into the area between the oil dipstick and the electrical harness to the left of the dipstick near the A/C compressor. It scraped my arm up a little bit, but I was done in 20 minutes. The amount of time I was able to complete it in was worth the scrapes. Gauge works like a dream now.
The replacement oil pressure switch looked a hair different than the one I removed. Hopefully this means that the one I put in is the upgraded part. The replacement was an original Motorcraft part bought at O'Reilly Auto Parts for $5.26 plus tax.
Oh yeah, anyone else that decides to do this may want to remember that the best time to do this is during an oil change, specifically while all of the oil is drained out of the engine (duh). I wasn't thinking about it when I started (oil pressure switch=place where oil resides) and some of it ran out and onto the garage floor. It doesn't leak a lot of oil, so you could do it before draining the oil if you really wanted to. I checked the oil level after finishing and it didn't look to be any different than normal.
I was able to complete this using just a 13/16" spark plug socket and a 3/8" drive ratchet.