Fuel System Setup

You definitely should use a "strainer " before the pump, no tighter than 80 micron, 100 is preferred. Of course a filter after the pump of 40 micron or tighter. Do your self a favor too and install a cut off valve before everything for ease of maintenance down the road. Try to install the pump so the inlet is below the outlet of the tank - the more the better. Always use a regulator - even if the pump has one play it safe with another.

The return line ... you will get a whole host of opinions on this. It will depend largely on the pump you use (some have internal bypasses, some don't). If you have one with an internal bypass my opinion is that you can run it without a return with no ill effects. Your best bet is to check with the pump manufacturer to ease your concerns on using or not using a return line. I run a Holley HP series currently and Holley feels this pump is just fine without a return line. I do not use a return and have no issues with it even in 95 degree weather.

The big "albeit" - you need to make sure you size the pump for the application. Bigger is not always better. A performance motor uses fuel at a rate of roughly 2X its Hp in #/Hr. If you do the conversion this equates to about 0.08 gal/hr per HP. If you have a motor making 500 hp X 0.08 gal/hr = 40 gal/hour (at WOT). Most pumps are rated at a "free flow rate" which does not account for pressure (why I don't know since every system is pressurized) - and of course does not take into account line loss, etc.
The bottom line - I believe, you can safely run a free flow rate that is about 1.5 to up to 2X what your motor will need at WOT and at 5-7 psi pressure. If you run a pump that is significantly bigger than this you "need" in my opinion, a return line - but then you have to ask yourself why you are using that large of a pump... A pump that is too large will not only cost more, be more noisey but will also be putting out a large flow - all the time. At idle when you are not needing much for the motor that flow is going right back into your tank like a water hose, with all of the turbulence and foaming, etc..