I have a 2004 5 speed hatchback that just turned 80,000 a few weeks ago.
Yesterday, I was running a few errands, and after my last stop, the car would not start.

It turns over but just won't start. I checked the fuel pump fuse and relay and all seems o.k. there.
When I checked the pressure this morning, the gauge went to 50 when the ignition was turned on, but then gradually dropped. This was a used Autozone loan-a-tool, so I'm not sure of the quality of the gauge anymore.
Also, I'm a big n00b to the fuel system, so I hope my questions aren't too crazy.

When the fuel pressure drops with the ignition on but engine off, should the pump kick back in to repressurize the line? When opening the bleeder valve on the gauge or manually pressing the schrader valve with the ignition on, I only got the tiniest squirt of gas and then nothing.

Is this indicative of a bad pump? What else can I do to test it?
Any help is aprreciated (and I'll keep scouring this site looking for answers in the mean-time)

Thanks,
Steve