Can fuel pump be bad with a constant 5-6psi reading?

Hi there.
-I take it you are new to this fixing thing. Thats ok. we all had to start the same way.
-First off, theres several good responses in this thread which pertain to the accelerator pump. Make sure yours is adjusted correctly and working.With the engine off, and the filter house removed,lean over the top of the carb and shine a flashlite down the throttle bore. Then operate the throttle to open the butterfly(s). If its working correctly, you will see a stream of gas squirting into there. It will begin immediately as you operate the throttle and should continue un-interupted for almost as long as you continue to rotate that arm. It HAS to begin immediately. It HAS to continue un-interupted.
-The idea with the vacuum advance is just to disable it for the short roadtest, and if theres no change in the way it performs,then to reconnect it.
-Next is timing. Most of the guys here running sixers,me included on my beater, have discovered that our slantys like way more idle and low speed timing than the factory ever gave them. Unfortunately if you change the initial timing you will have to modify your distributor to not over advance it under WOT/full-load conditions.In your case I would crank the initial up to ten or even fifteen degrees, BEFORE TDC to see how it responds.If the problems disappear, the dizzy will need to be modded. When/if you do crank in more timing, you will need to be aware of the sound of detonation occuring, in which case, back out of the throttle immediately.Or just stay out of WOT/full load.At the completion of the test, you will need to put the timing back, until such time as you have modded the dizzy, if it turns out to solve the problem.
-As to the V-can.The stem of the can locates the point-plate in the dizzy.( I think I read that you have a new point-type dizzy, but Ill include this description, because I think its still relative).When the parts in there get old,and the can gets to yanking on the plate, part of that motion may get used to close up the point gap or push the drive shaft over to the side. This ends up destroying the dwell time, and the timing. The end result is crappy running when the can gets vacuum. Which is any time except idle and somewhere near or after half-throttle to wot(wide open throttle). The rest of the time the can is seeing varying amounts of vacuum and transferring varying amounts of motion to the point-plate. So thats why we disconnect the hose for the retest.The engine wont respond properly and will feel sluggish, as compared to a properly working system, but if the problem you are experiencing stems from the worn dizzy, this will alleviate or eliminate the issue. If it gets better but not eliminated I would open the point gap another .006 or so(doesnt have to be exact) and retest.If problem disappears,its time for a new dizzy.
-While youre in there you might as well test the can. With engine running, just suck on the carb end of the hose that goes down to the vacuum advance can. The engine should pick up rpm, and should remain at that new rpm for as long as you keep suction on the hose.
-Wait I just reviewed your new parts list and noticed you have a dwell meter. In that case, just put the dwell meter on the running engine, and suck on that hose as described above. If the dizzy is in good shape the dwell wont change much, if at all. No roadtest required.
-I know you said the valve adjustment was good. But From your earlier posts Im under the impression that youre new to this activity, so if you dont mind could you elaborate a bit on how you performed it, and the specs you used, and if the engine was hot or cold, please.

-So, the compression test. Yes its best to do it with the engine warmed up. All the plugs come out before starting. Dont use a cheap gauge or a push-on-the-hole type.The results are only as good as the equipment used.The plugs are on the "cold" side of the engine.You may have to loosen the alternator and rotate it out of the way, to test no 1. Be careful not to short out that big fat wire thats hanging off the back of it.
Crank the engine til the gauge peaks. Count the number of compression cycles that it takes to peak. Record all the numbers. Yes its ok to stop in the middle of the test(not recommended), so long as the gauge holds the last reading.