As stated by others, the electrical gauges on cars with stabilizers run at 10V. The stock Smiths stabilizer is a switching device turning 12V on and off very quickly so it's hard to get an accurate measurement with a volt meter. With the solid state stabilizer/regulator you can use a volt-meter between the stabilizer side of the gauge and chassis ground to confirm you have 10V supplied to the gauge. If you measure anything higher, make sure the stabilizer/regulator is hooked up properly. If your gauges are getting higher voltage... they will read higher.
To test the general operation of the gauges is straight forward. For both fuel and temperature gauges all that is required is to switch on the ignition. At the sender, disconnect the wire going to the gauge, then ground that wire. The gauge should move toward the high side. If the gauge fails to respond to this, there is a problem with the power to or from the gauge.
Regarding extra spade lugs and dedicated grounds on fuel sending units, I have no direct experience with '72 Bs. However, look closely at the empty spade lug. If it's mounted in an insulator it is more likely a low fuel light connection (use on some BL cars). If the spade lug is spot welded directly to the metal disk, you can certainly attach a dedicated ground wire to it. BMC/BL/Smiths/Lucas (whoever is to blame) changed things over the years as they learned. Some early BMC cars used the metal braid on the Petroflex fuel lines to make the ground connection. When/if that was replaced the fuel gauge stopped working. If in doubt it wouldn't hurt to try a dedicated ground wire (with an alligator clip) attached to the bayonet ring (commonly used to hold later senders in place) to give the sender a better ground.