How does my contraption look??

Also, one VERY important point that I left out. Notice the BG diagram. In order for the fuel to go back to the tank through the return line, it must flow into the carb, then CHANGE direction, go back through the SAME way it came in and out the return line. That's a lot of turbulance. Routing the return line in the fashion I outlined allows the fuel to flow the SAME direction the entire route of the fuel system.

What in the world are you talking about? The fuel flows from tank, filter, pump, fuel log, regulator then back to the tank. The carb uses fuel from the cool fuel in the log as it needs it, there is no change of direction whatsoever. The less fuel the carb is using, the more is bypassed into the tank keeping the fuel supply cooler at idle but there would always be fuel bypassing the regulator in all conditions. Unless, of course, the fuel pump is too small for the application. Get it?

I will grant you this, the top of the fuel bowls may run a bit cooler with your design but I would put the bypass regulator where it's supposed to be, on the fuel-out side from the carbs. On the effect of cooling the bowl tops with ambient temp fuel and what real effect it has I'll leave for you prove.

Jeez, getting on the tech forums these days is like talking to my sister's kids.