Oil temperature should not exceed 100 above ambient temperature. Excess temperature may indicate baffling that will need to be fixed or that there is excessive clearances on rods, mains and cam bearings. 220 F is the max allowable temp. Too high oil temp causes fretting of the engine halves. Oil pressure should not drop below 30 psi when oil temperature is stabilized at the hot operating temperature.
Overhauls are expensive and crankshafts are getting scarce.
However, there may be a particle under the oil pressure relief valve causing lower pressure. Check for particle and reinstall. Usually find piece of plastic from oil bottles that fell into tank when adding oil. Even these numbers may be high. John Wright, Sr., cited several planes on which he works, that have excellent engine baffles, which show 360 in cruise and 400 -410 in climb.