It's as accurate as you make it. If you lengthen the arm to reach the bottom and there's no interference with the full sweep if the arm, it's still 17 ohms full and 120 empty.
But, as Josh said, you need the older sender... The newer 17F-120E, with 12v will not work with your earlier gauge.
There's a company named Centroid Products, in FL... That manufacturers a different style sender (
CENTROID PRODUCTS - Computerized Tank Display - Electronic Senders - capacitive fuel gauges).
Call them and give them your specs (length, ohms range) and they'll build one for you. It don't recall the price, but it was very reasonable.
The one they built for my '78 would never work correctly and their customer service was great. But, we spent so much time (they sent me two or three senders) that they refunded everything and gave up.
But, I don't know of anyone besides me who couldn't get it to work... I ended up buying a second OEM and lengthening it.
@Downey has used and recommended Centroid for years ... He can give you more info, if you need it.
Or you can install a second fuel gauge for your aux tank.
Good luck!!