Ok. Thx. What pressure should it be set?

Im not for sure on your application, around 41-43 ?? Im sure someone else will chime in

+1 the fuel/water seperator goes before the pump, then you can install a Micron filter after the pump if you want, http://www.summitracing.com/parts/aei-12301
If your engine is stock and no blower probably get a regulator like this. They have some with smaller ports to save a few $, but have to get AN fittings for most of them anyways. http://www.summitracing.com/parts/aei-13101/overview/
Your regulator should be on the front of the fuel rail, but that return line will need to be plugged which is on the back of the fuel rail. The other alternative is to buy the vortec type regulator that you attach to the existing stock regulator then adapt the return line to the tank. http://www.cpperformance.com/p-13316...regulator.aspx
You will also want to get a relay kit for the pump, http://www.cpperformance.com/p-13698...relay-kit.aspx
Just remove the mechanical pump and get a block off plate. It is a standard chevy block off.

Thank you for that description. This was what I needed.