I took the plane up yesterday and had a great flight. Fuel pressure dropped when I was at altitude, and continued even after flipping on the electric pump, so I pushed it at full-throttle climb to see how low the fuel pressure would go. It really just bobbled around 2.0 and then stabilized at 3.X in a minute or two.
Yes, it triggers an alarm at 2.2 psi.
Did some research. Lots of people having these issues. Seems more common with the new style fuel pump with the drain hose.
Some check points:
1) make sure the fuel pump drain hose is inside the cowling and clipped back about 12" from the firewall.
2) fuel pressure sender (clean, especially the hole, or replace)
3) check banjo bolt at fuel return diverter
4) check for overly tight ties on fuel lines
5) check for electrical grounds
6) check fuel filters, gascolator etc.
7) possibly consider attaching a manual gauge to check system
Supposedly the motor runs just fine at 1.X psi.
Fuel pressure gauges are optional equipment.
Plenty of people probably live with this issue without even knowing it.
SportCruiser / PiperSport Owners: US Sport Aircraft offers a fuel reroute option which is suppose to help.
One rumor speculated that the new style fuel pump design may cavitate.
Further details at the following links:
http://www.rotax-owner.com/en/rotax-for ... essure-low
http://www.rotax-owner.com/en/rotax-for ... l-pressure
http://www.rotax-owner.com/en/rotax-for ... 0&start=40
* Disclaimer: I am not a mechanic or otherwise certified to give advice. The above are simply my findings while researching as an owner.