I recently purchased a 01 ssei and it has extremely high oil pressure like just under 120 and the boost at WOT only gets up to maybe 1-2psi   any body have an idea on were I should start?
 
maybe in the other car forums? 
 
 
Try a gtp or a  dedicated 3800 forum.
 
 
are you sure its 120 psi oil pressure?   if so is it all the time even with a warm engine?  
there are a couple of things i can think of that will cause high oil pressure.
an aftermarket higher volume oil pump
using thick heavy weight gear oil(80-90 weight).  this is used by jackasses that try to sell there vehicle with a noisy/knocking motor.  it will temporarily quiet the engine.   when i buy a used car i always smell the oil as gear oil has a distinct smell to it.
as far as low boost it could be a number of things but the first think that comes to mind is a leaking bypass valve or the supercharger could need a rebuild.