I reread your post and see that you did mention the plate. If you are building that kind of pressure in the pump, then you either have a serious pump failure or the line for the case drain is plugged. There is always leakage between the rotating group and the end and cam plates and that leakage is sent back to the reservoir via the case drain line in the side of the pump. If the rotating group is damaged the leakage can get excessive and the case drain line may not be able to handle the flow. You can remove the case drain line from the pump and attach a hose to the pump and with a bucket to catch the flow, start the engine and see how much flow you have from that pumps case drain. I would block the loader up off the ground so you can stroke the hydro lever and see how much the flow increases. Measure how much oil flows out in one minute. I can not remember what the spec is, but if you fill a five gallon bucket in one minute, you definitely have a problem.