oil pump question ?

No, it won't "suck the pan dry" because it's just dumping most of it out the bypass anyway. All it's doing is trying to compress a fluid - which just means it's wasting power and making a little heat.
Unless the engine has race clearances and plans to race it, or it's whipped, there is no need for a HV pump. In any of those instances, you should also have a bigger sump because there may be an issue with it not draining back fast enough at a higher rpm.