Yes, however some fuel will then be circulating most of the time, getting hot from the pump. That is why most people return it to the tank. Also, you might lose the fuel in the loop above the axle since the carb might allow air in past the needle when the engine is off (like taking your finger off a straw that is holding water). If so, the pump will have to suck air each time you start until it "re-primes" the tubing. I would at least have a fuel pressure gage installed to monitor the pump outlet. Let us know if it works.