Well when I started reading this post and saw it was back from 2007 I wasn't sure if I should post on it, but I was glad to see it was still alive in 2016. So I'm having all the same issues that it seems everyone else is having with this POS fuel gauge. I understand the procedure that's described to fix it but I have a question....
If you set the float to have the light come on when it 'bottoms out', or that little bit prior, aren't you leaving no room for a reserve, or is it set up that once the float hits bottom THEN you are running on reserve? Curious minds want to know??

(And BTW I know I'm late to the party on this but that was an excellent post!!)