Larry,
Oil pressure is not the best way to measure oil, but it's expensive to measure oil flow, so a pressure gage is an inexpensive way of determining oil flow. Since oil pumps are positive displacement pumps, the oil flow remains realitively the same. Changing the opening will directly affect the oil pressure and the speed it moves at.
A smaller opening will result in an increase in puressure in the pipe before the opening. A larger opening will result in a decrese in pressure in the pipe after the opening.
The math is complex, but the concept is simple.
The restrictor valve causes a smaller opening for the oil to travel though. If the rate of flow remains the same, the pressure in front of the valve will increase, and the oil will move faster past the restrictor.
That will increase the pressure on the inflow side of the bypass filter, which means there is a greater pressure difference between the in and out side of the by-pass filter. That will result in more oil flowing through the by-pass.
As for the full flow, both the input and output are after the restrictor, so the pressure difference between the two sides is smaller.
There is always less pressure on the out side than the in side. The pressure difference is directly related to the rate of flow. In the case of a positive displacement pump the flow is a constant, and the pressure is changed to achieve that flow rate.