Oil & water tubes have worked fine for a long time, but they introduce another (several) leak points in the system.
If you want to eliminate them, you probably will need to invest in new gauges and senders too.
Depending on your fabrication and mechanical abilities, you could design your own panel, which several of us have done, and/or Moyer sells a cool panel thingie as well in their catalog.
You can get to the gauge page -->
here.