Update: I got the 2nd new FAE sender from Pelican today and installed it in record time. No other changes made, gauge shows pressure and everything looks good. So, it was a defective sender.
I plan to run with this one for a while and if it too fails, I'll give up and buy a VDO sender.
It's funny that after doing this job a couple of times, I can do it really fast! It took 15 minutes to remove the PS pump, hang it out of the way and remove the sender. The entire swap job took about 45 min with one of the front tires up on a ramp.
BTW, the 15/16" stubby open ended wrench made the job really easy. I bought a set of stubbies from Harbor Freight for $12. Easier than buying a full-sized wrench and cutting it.