[asphaltgambler]

My opinion Fred, from your post; both sides are dropping which is contrary to a restriction. First let's separate the high side / suction side. The suction side drops to @35 psi when compressor is engaged. Depending on vehicle / temp / humidity, that's about optimal so that side is working correctly.

The high side is another story. If there is a restriction the high side psi would skyrocket and the suction side go to zero or possibly pull a vacuum. Your problem is the high side is not developing pressure. Whatever device ( expansion valve or similar) is holding off high pressure is stuck open, you would still see elevated high side pressure from static. My experience is you have a reed valve, swash plate stuck in 'neutral' position or other internal mechanical problem with the compressor.