I wire brushed the threaded stud and the ring connector. I also used emery cloth on both.
I then installed an external star washer over the stud, prior to installing the ring connector. It just sat on the base of the stud before. Then I installed the ring connector secured by it''s nut with a captive star washer. All is working now.
For future reference, is an "always empty" gauge reading usually attributed to the hot wire side of the circuit and that an "always full" gauge reading can usually be attributed to a ground issue? This assumes that the gauge and sender are known to be good.