Well there are some other less intrusive things you could try before making the external voltage stabilizer conversion.
First, try a mechanical inspection. Shine a flashlight in the tank to see if the float is floating. If it is not, you know there is a mechanical issue to sort out (binding arm, perforated float, etc).
If the float appears to be floating, add some resistors to your Maplin order. Buy a small quantity of 5%, 1/2 Watt resistors rated at 33 Ohms, 130 Ohms, and 240 Ohms (or close to these values). These will be used to simulate the sending unit. Disconnect the two wires at the sending unit. With the ignition switch in the run position, insert the 240 Ohm resistor in the two wire terminals making sure the resistor leads are making good contact with the terminals. The gauge should read close to empty but the needle should be up off its bottom position. Replace the 240 Ohm resistor with a 130 Watt resistor. After a few moments the fuel gauge should go somewhere near 1/2. Finally try the 33 Ohm resistor. The tank should read close to full but not be pegged all the way to the top. If you don't get the empty-1/2-full results with these tests, repeat the tests by inserting the resistors in the green/black sending unit wire terminal and connecting the other resistor lead to a wire that you run directly to the battery (-) terminal. If you get the correct empty-1/2-full results connected directly to the battery terminal, the black sending unit wire has an earth problem. If neither test method makes the fuel gauge read correctly then you have cause to try the external voltage stabilizer conversion.
Sorry to answer after 5 years, but I also have issue with my fuel gauge. I replaced the sender by 4 different resistors:
- 270 and 240 ohms: gauge doesn't move
- 131 ohms: gauge on the red line
- 31 ohms: 3/4 full
When I connect directly sender wires together, gauge is higher than full.
I never seen the temperature gauge at "N", always below, so I think voltage out of the voltage stabiliser is too low.
What do you think?