1.Yes.

2.Most likely.

I have an 88 DLX pickup. It has no tach either. It does have a LOW FUEL light that comes on when the needle is at the E mark. I can get about 30-40 miles before the truck won't run any further.

There are 4 "dummy" lights to the right of my gas gauge.

Top to bottom they are:
FASTEN SEATBELTS(Red Light)
CHARGE(Red Light)
LOW FUEL(Amber Light)
BRAKE(Red Light)

The three red lights come on when I turn the ignition towards start. Then go out when the engine is running.

 

Mine works I remember it going on about a year ago, orange little sideways rectangle. It just slowly light up..

I have not run my truck under a 1/8th of a tank since then so I don't know if it still works..